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Arrange the following events from the date of their happening starting from the oldest:(A) IRDA Act…

Arranging these Indian banking and financial events from oldest to newest: (D) the 364-day Treasury Bill with market-related rates was introduced in April 1992; (A) the IRDA…

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Arrange the following events from the date of their happening starting from the oldest:

(A) IRDA Act passed in Parliament
(B) Concept of financial inclusion introduced in Banking sector
(C) Global trust bank merged with UTI Bank
(D)364-day treasury bill introduced with market related rates
(E) Fiscal responsibility and Budget Management Act Passed

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Answer and explanation

Correct answer A

Arranging these Indian banking and financial events from oldest to newest: (D) the 364-day Treasury Bill with market-related rates was introduced in April 1992; (A) the IRDA Act was passed in Parliament in December 1999; (C) the proposed merger of Global Trust Bank with UTI Bank occurred in January 2001 (though later called off in April 2001); (E) the Fiscal Responsibility and Budget Management (FRBM) Act was passed in August 2003; and (B) the concept of financial inclusion was formally introduced in the Indian banking sector by the RBI in April 2005 (in the Annual Policy Statement 2005-06). This yields the sequence (D), (A), (C), (E), (B), which matches

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  • UGC NET Economics

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