Discussion
lndustrial Development Bank of India is
Answer: A
Correct answer: Wholly-owned Government of India undertaking
IDBI was established in 1964 as a wholly-owned subsidiary of the Reserve Bank of India, but it did not remain one. In 1976 it was delinked from the RBI and its ownership transferred to the Government of India.
Its apex role over the other financial institutions was the reason: supervising bodies in which the RBI itself had an interest sat awkwardly with the central bank's own functions, and direct government ownership resolved that. The second option therefore describes only the position between 1964 and 1976, and the description of it as a public limited company belongs to the much later conversion of 2004.
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