Consider the following : I. Industrial Finance Corporation of India II. Industrial Credit and Investment Corporation of India III. Industrial Development Bank of India IV. Unit Trust of India The correct sequence in which the above were established is

The chronological order is: Industrial Finance Corporation of India (IFCI) → Industrial Credit and Investment Corporation of India (ICICI) → Unit Trust of India (UTI) → Industrial Development Bank of India (IDBI). IFCI was set up in 1948 as a statutory corporation to provide medium- and long-term industrial finance [1]. ICICI was established in 1955, while both UTI and IDBI were created in 1964; ICICI therefore predates UTI and IDBI, producing the sequence IFCI (1948), ICICI (1955), UTI (1964) and IDBI (1964) — which corresponds to option 1 (I, II, IV, III) [2]. Therefore option 1 is correct.

Sources

1. [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 7: Money and Banking > Industrial Finance Corporation of India > p. 182
2. [2] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 3: Money and Banking - Part II > 3.5 Development Financial Institutions (DFIs) > p. 134