Which of the following played a key role in financing industrial projects during the Fifth Five-Year Plan in 1974-1978?
Industrial Development Bank of India (IDBI)
The Industrial Development Bank of India (IDBI) was set up in 1964 under the IDBI Act as a subsidiary of the RBI and was made an autonomous body in 1976. It acted as the apex development financial institution for industry.
During the Fifth Five-Year Plan (1974–78), IDBI provided long-term finance, refinance and co-ordination for other term-lending institutions (IFCI, ICICI, State Financial Corporations), making it the key institution financing industrial projects.
The RBI is the central bank that regulates money and credit, SBI is a commercial bank mainly providing working capital, and EXIM Bank was set up only in 1982 to finance foreign trade.
Hence, the answer is Industrial Development Bank of India (IDBI).
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Important Questions from Money and Banking
Which one of the following is likely to be the most inflationary in its effects?
Which one of the following effects of creation of black money in India has been the main cause of worry to the Government of India?
Consider the following statements :
The effect of devaluation of a currency is that it necessarily
1. improves the competitiveness of the domestic exports in the foreign markets
2. increase the foreign value of domestic currency
3. improves the trade balance
Which of the above statements is/are correct?
Indian Government Bond Yields are influenced by which of the following?
1. Actions of the United States Federal Reserve
2. Actions of the Reserve Bank of India
3. Inflation and short-term interest rates
Select the correct answer using the code given below.
With reference to “Urban Cooperative Banks" in India, consider the following statements :
1. They are supervised and regulated by local boards set up by the State Governments.
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Which of the statements given above is/are correct?
