Tag: history

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Multiple choice history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

Until nationalization all major banks were controlled by one or more business houses.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A major driver for bank nationalization was that private banks were often controlled by large industrial business houses, which led to the concentration of credit in those specific sectors.

Multiple choice history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

Prior to nationalization of banks in 1969 banks did not lend according to social needs.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Prior to 1969, private banks prioritized lending to large industries and urban businesses, often ignoring the credit needs of agriculture and small-scale sectors.

Multiple choice history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

Agriculture accounted for ___ % of advances of banks just before nationalization.

  1. 2.2%

  2. 4.4%

  3. 6.6%

  4. 8.8%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Before the nationalization of banks in 1969, the agricultural sector received a very small share of total bank credit, specifically around 2.2 percent. This neglect was a primary driver for the government's decision to nationalize major commercial banks.

Multiple choice history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

Apart from neglecting agricultural sector, commercial banks prior to nationalization neglected export and small scale industries.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Prior to nationalization, commercial banks in India were largely urban-centric and focused on large-scale industries, neglecting agriculture, small-scale industries, and exports. This imbalance was a key justification for the state taking control of the banking sector.

Multiple choice history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

Which of the following is Apex Bank for agricultural credit in India?

  1. RBI

  2. SIDBI

  3. ICICI

  4. NABARD
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

NABARD (National Bank for Agriculture and Rural Development) was established in 1982 as the apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India.

Multiple choice history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

Which one is not the objective of Nationalisation of banks?

  1. Removal of control of Banks by few

  2. Generation of more revenue

  3. Managing Banks professionally

  4. Provision of adequate credit for Agriculture and SSI units
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The primary objectives of bank nationalization were social welfare, financial inclusion, and directing credit to priority sectors like agriculture and small-scale industries. Generating revenue was not a primary objective of the government policy.

Multiple choice history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

The full form of ICICI is :

  1. Investment Credit and Industrial Corporation of India

  2. Indian Credit and Investment Corporation of India

  3. Industrial Credit and Investment Corporation of India

  4. International Credit and Investment Corporation of India.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

ICICI stands for Industrial Credit and Investment Corporation of India. It was originally established as a development finance institution to provide medium and long-term project financing to Indian businesses.