wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Byju's Answer
Standard VII
History
Literary sources
Q. Consider t...
Question

Q. Consider the following statements in reference to Development finance institutions

Which of the statements given above is/are correct?


A
1 only
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
2 only
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Both 1 and 2
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Neither 1 nor 2
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is D Neither 1 nor 2

Explanation:

  • Statement 1 is incorrect: India has had many developmental finance institutions in the past. India had set up DFIs such as Industrial Finance Corporation of India (IFCI) in 1948, Industrial Development Bank of India (IDBI) in 1964. Due to the rise of bad loans, the Narasimham Committee-II had suggested that these institutions should either convert themselves into banks or non-banking financial companies (NBFCs).
  • Statement 2 is incorrect: Any person who intends to set up a development financial institution shall make an application to the Reserve Bank for licence. The Reserve Bank in consultation with the Central Government will grant licence subject to such criteria, terms and conditions as may be specified by the Reserve Bank by regulations.

flag
Suggest Corrections
thumbs-up
0
similar_icon
Similar questions
Q.

With reference to the National Bank for Financing Infrastructure and Development (NBFID), consider the following statements:

Select the correct answer using the codes given below:


  1. 1 and 2 only

  2. 1 and 3 only

  3. 1 and 4 only

  4. 1, 2, 3 and 4
Q. Consider the following statements:
1. The National Housing Bank , the apex institution of housing finance in India, was set up as a wholly owned subsidiary of the RBI.
2. The Small Industries Development Bank of India was established as a wholly-owned subsidiary of the Industrial Development Bank of India.
Which of the statement given above is/are correct?
Q.

Q28. Consider the following statements with reference to National Skill Development Corporation, (NSDC):

1. It aims to promote skill development by catalyzing creation of large, quality, for-profit vocational institutions

2. NSDC is a not-for-profit company set up by the Ministry of Finance

Which of the above statement(s) is/are correct?


Q.

Q. With reference to the National Bank for Financing Infrastructure and Development (NBFID), consider the following statements:

Select the correct answer using the codes given below:


  1. 1 and 2 only
  2. 1 and 3 only
  3. 1 and 4 only
  4. 1, 2, 3 and 4
Q. 40. Consider the following statements with references to Deficit financing.
1. It is to finance excess expenditure with outside resources.
2. Fiscal deficit is the ideal indicator of deficit financing.
3. It cannot be an ideal for India as infrastructure development cost is growing high.
Which of the above statement(s) is/are incorrect?
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Literary sources
HISTORY
Watch in App
explore_more_icon
Explore more
Literary sources
Standard VII History
Join BYJU'S Learning Program
book_image
AI Tutor
book_image
Textbooks
book_image
Question Papers
book_image
Install app
CrossIcon