Official Answer Key & Detailed Solution
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Correct Answer: Option (A) — 1, 2, 3, 4
Concept & Option Breakdown
Standard Reference VerifiedThe chronological sequence of the establishment of these institutions is:
- IFCI: Established in 1948 as India's first Development Financial Institution.
- ICICI: Established in 1955 as a joint initiative of the World Bank, Government of India, and Indian industry.
- IDBI: Established in 1964 under an Act of Parliament as an apex DFI.
- NABARD: Established in 1982 on the recommendations of the B. Sivaraman Committee.
Thus, the sequence is 1, 2, 3, 4.
IFCI was established immediately after independence in 1948 (starts with 1: narrows to option a). NABARD was formed under the Sixth Five-Year Plan in 1982 (ends with 4).
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