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SSC CGL 2023 PYQ — Question 45

SSC CGL - 14 July 2023 - Shift 3 • General Awareness • Q45

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Arrange the following Development Financial Institutions (DFI) in the correct chronological order, according to the year they were set up.
(i) Industrial Credit and Investment Corporation of India (ICICI)
(ii) Industrial Development Bank of India (IDBI)
(iii) Industrial Finance Corporation of India (IFCI)

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Correct answer: B

Explanation

The correct answer is Option 2 i.e. (iii)-(i)-(ii).

The correct chronological order of the Development Financial Institutions (DFI) according to their establishment years is:

  1. Industrial Finance Corporation of India (IFCI) - Set up in 1948.
  2. Industrial Credit and Investment Corporation of India (ICICI) - Established in 1955.
  3. Industrial Development Bank of India (IDBI) - Founded in 1964.

This sequence reflects the development of financial institutions in India to support industrial growth and economic development.