The Industrial Development Bank of India was delinked from the RBI with effect from _______.

February 16, 1969

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February 16, 1972

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February 16, 1976

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February 16, 1982

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Solution

The correct option is C February 16, 1976
IDBI stands for Industrial Development Bank of India. It was established under the Industrial Development Bank of India Act, 1964. The ownership of IDBI has been transferred to the central government. It was done to achieve more effective coordination among all financial institutions of India and the enlarge the role of IDBI as the apex financial institution.

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