Match the financial institutions in Column A with their corresponding functions in Column B.
|
Column A |
Column B |
|
1. Reserve Bank of India |
(a) Supports rural development and funds banks for farming and the village industries |
|
2. NABARD |
(b) Provides savings schemes like NSC and kisan Vikas Patra |
|
3. Post offices |
(c) Market place where financial securities like stock are traded |
|
4. Stock Exchange |
(d) Supervises Indian banking system issue currency notes |
|
5. NPCI |
(e) Launched UPI in 2016 for digital payments |
1 - D (RBI is India's central bank that supervises the banking system, maintains accounts of banks, and has sole authority to issue currency.)
2 - A (NABARD supports rural development by funding banks that provide loans for farming, village industries, and infrastructure like roads and irrigation.)
3 - B (Indian post offices offer financial services including savings schemes like National Savings Certificates, Kisan Vikas Patra, and Sukanya Samriddhi accounts.)
4 - C (Stock exchanges are marketplaces where buying and selling of shares and financial securities take place; BSE was established in 1875.)
5 - E (National Payments Corporation of India launched UPI in 2016, revolutionising digital payments with fast, secure, and user-friendly money transfers.)