📝 Multiple Choice Question
Economics
The establishment of the Industrial Development Bank of India (IDBI) in 1964 was a significant step toward:
A
Promoting heavy industries
B
Encouraging small-scale industries
C
Providing housing loans
D
Supporting agricultural cooperatives
Explanation
The massive Industrial Development Bank of India (IDBI) was legally established in 1964 as a wholly-owned, highly powerful subsidiary of the RBI exactly to securely act as the principal financial institution for massively coordinating long-term industrial finance and strictly promoting heavy industries.
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