Read the following events : (i) Capital adequacy norms for commercial banks (ii) Establishment of IDBI…
The correct chronological (ascending) order of the events is: (ii) Establishment of IDBI in July 1964 under the Industrial Development Bank of India Act, 1964; (iv)…
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Read the following events :
(i) Capital adequacy norms for commercial banks
(ii) Establishment of IDBI
(iii) Allowing convertibility of rupee at the market rate in the current account.
(iv) Nationalisation of general insurance business
Arrange the events in the ascending order of their occurrence :
Answer and explanation
Correct answer C
The correct chronological (ascending) order of the events is: (ii) Establishment of IDBI in July 1964 under the Industrial Development Bank of India Act, 1964; (iv) Nationalisation of general insurance business in 1972 under the General Insurance Business (Nationalisation) Act, 1972; (i) Introduction of capital adequacy norms for commercial banks in India in 1992 following the Narasimham Committee recommendations; and (iii) Full convertibility of the rupee on the current account in August 1994, giving (ii), (iv), (i), (iii).
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UGC NET Commerce