Banking Laws & DFIs Part 2
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Indian Economy and Indian Financial System — JAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
What is the primary objective of the Development Finance Institutions (DFIs) established in India?
DFIs were established to provide long-term credit and financial assistance to industrial and infrastructure sectors that were not adequately served by commercial banks.
What is the full form of DFI in the Indian financial context?
Development Finance Institution, set up for long-term financing.
Under which Act was NABARD (National Bank for Agriculture and Rural Development) established?
NABARD was established under the NABARD Act, 1981, and commenced operations on 12 July 1982 as the apex development bank for agriculture and rural development.
In which year was NABARD established?
NABARD was established in 1982.
What is the role of SIDBI (Small Industries Development Bank of India) in the Indian financial system?
SIDBI acts as the principal financial institution for promotion, financing, and development of MSMEs, and coordinates the functions of institutions engaged in similar activities.
Which apex institution refinances rural cooperative banks and RRBs in India?
NABARD refinances rural cooperative banks and Regional Rural Banks.
Under which legislation was SIDBI established and in which year?
SIDBI was established under the Small Industries Development Bank of India Act, 1989, and commenced operations on 2 April 1990.
Under which Act was the National Housing Bank (NHB) established?
NHB was established under the National Housing Bank Act, 1987.
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