BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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24th September 1960
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17th December 1920
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22nd November 1959
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23rd May 1919
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Detailed explanation-1: -Launch of IDA With initial funding of $912.7 million, IDA was launched on September 24, 1960, with 15 signatory countries-Australia, Canada, China, Germany, India, Italy, Malaysia, Norway, Pakistan, Sudan, Sweden, Thailand, United Kingdom, United States, and Vietnam.
Detailed explanation-2: -Established in 1960, IDA aims to reduce poverty by providing zero to low-interest loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.
Detailed explanation-3: -Detailed Solution. The correct answer is International Development Association. International Development Association institutions was formed in 1960 to assist the poor countries which could not afford to borrow capital at market rates.