Tag: nationalisation and privatisation of banks

Questions Related to nationalisation and privatisation of banks

IDBI was initially set up as a ________.

  1. Development Financial Institution

  2. rural bank

  3. co-operative bank

  4. sahakari bank


Correct Option: A

Nationalisation of 14 major banks in India took place in ________.

  1. July 1969

  2. June 1970

  3. April 1980

  4. February 1990


Correct Option: A
Explanation:

On July 1969, fourteen major private commercial bank of India were nationalized which included Indian bank, Indian Overseas bank, Canara bank etc in order to increase the efficiency of public sector. 

Which of the following is not matched correctly?

  1. IBRD established: 1945

  2. IFC established: 1947

  3. IDA established: 1960

  4. MIGA established: 1988


Correct Option: B
Explanation:

IFC was established on July 20 1956.