2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Reserve Bank of India
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Central Drug Research Institute
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Central Institute for Cotton
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Research Small Industries Development Bank of India (SIDBI)
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Detailed explanation-1: -In 1967, the Reserve Bank of India(RBI) granted license to ‘The National Grindlays Bank’ to perform the services relating to issue management. On the recommendation of Banking commission, State Bank of India(SBI) became the first Indian Bank to start with the merchant banking activities in 1972-73.
Detailed explanation-2: -The State Bank of India was the first Indian commercial bank to set up a separate Merchant Banking Division in 1973, followed by ICICI followed it in 1974.
Detailed explanation-3: -A merchant bank is a financial institution that conducts underwriting, loan services, financial advising, and fundraising services for large corporations and high-net-worth individuals (HWNIs). Merchant banks specialize in international trade, providing services for multinational corporations.