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Question : Which committee recommended the establishment of the Industrial Finance Corporation of India (IFCI)?

Option 1: Hilton-Young Commission

Option 2: Tarlok Singh Committee

Option 3: V.K.R.V. Rao Committee

Option 4: Kaldor Committee


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Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Hilton-Young Commission


Solution : The correct answer is (a) Hilton-Young Commission.

The Hilton-Young Commission, officially known as the Royal Commission on Indian Currency and Finance, was formed in 1925 to review and recommend reforms for India's financial and monetary system. The commission, led by Lord Hilton-Young, submitted its report in 1926, which included recommendations for the establishment of specialized financial institutions to promote industrial development in India.

Based on the recommendations of the Hilton-Young Commission, the Industrial Finance Corporation of India (IFCI) was established in 1948. The IFCI was envisioned as a development finance institution aimed at providing long-term financial assistance to industrial projects in India.

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