Indian Economy
🔒 Log in to trackRegulators, exchanges and international organisations
🔒 Log in to trackDomestic regulators & institutions
| Body | Year | HQ | Head (2026) |
|---|---|---|---|
| RBI | 1935 (nationalised 1949) | Mumbai | Governor Sanjay Malhotra |
| SEBI | 1988 (statutory 1992) | Mumbai | Tuhin Kanta Pandey (since Mar 2025) |
| IRDAI | 1999 (Act 2000) | Hyderabad | — |
| PFRDA | 2003 (Act 2013) | New Delhi | — |
| NABARD | 12 July 1982 | Mumbai | Refinances agriculture/rural credit (Shivaraman Committee) |
| SIDBI | 1990 | Lucknow | Refinances MSME credit |
| BSE | 1875 — Asia's oldest exchange | Mumbai | SENSEX 30 stocks |
| NSE | 1992 (trading 1994) | Mumbai | NIFTY 50 stocks |
International organisations (economy-facing)
| Org | Year | HQ | Chief (2026) |
|---|---|---|---|
| IMF | 1944 (Bretton Woods) | Washington DC | MD Kristalina Georgieva; SDR quota reforms; reports: World Economic Outlook, Global Financial Stability Report |
| World Bank | 1944 (IBRD 1945) | Washington DC | President Ajay Banga (since Jun 2023); World Development Report |
| WTO | 1995 (succeeded GATT 1947) | Geneva | DG Ngozi Okonjo-Iwealla; India a founding member |
| ADB | 1966 | Manila | President Masato Kanda (2025) |
| AIIB | 2016 | Beijing | India a founding member (2nd largest shareholder) |
| NDB (BRICS) | 2015 | Shanghai | First president K.V. Kamath |
| OECD | 1961 | Paris | India is not a member |
Regulators — who watches which market
- SEBI — securities market regulator; set up 1988 (executive), statutory by the SEBI Act, 1992 (after the Harshad Mehta episode); HQ Mumbai.
- IRDAI — insurance regulator under the IRDA Act, 1999; HQ Hyderabad.
- PFRDA — pension regulator (interim 2003; statutory by the PFRDA Act, 2013); runs NPS and APY; HQ New Delhi.
- RBI — banks, NBFCs, payment systems. Others worth a line: NABARD (rural credit apex), SIDBI (small-industry finance), real-estate RERA (2016).
Development finance institutions
- NABARD — 12 July 1982, on the Shivaraman committee's advice, taking over RBI's agricultural-refinance functions; apex for rural credit, refinances RRBs and co-operative banks; HQ Mumbai; owned by the Government of India.
- SIDBI — 1990, HQ Lucknow; refinance window for small industries and the fund manager for MUDRA.
- EXIM Bank — 1982, trade finance; NHB — 1988, housing finance regulator-turned-developer of the housing market.
Markets and exchanges
The BSE (1875) — Asia's oldest exchange, began as the Native Share & Stock Brokers' Association — publishes the Sensex (30 stocks). The NSE (incorporated 1992, trading from 1994) brought screen-based trading and publishes the Nifty 50. NPCI (2008), the payments umbrella body, built UPI (2016), RuPay, IMPS, FASTag. Shares are held electronically with two depositories — NSDL and CDSL — while the FSDC (Financial Stability and Development Council, 2010) coordinates regulators at the apex level, chaired by the Union Finance Minister.
Multilateral institutions — HQs to memorise
| Institution | Year | HQ | Note |
|---|---|---|---|
| IMF | 1944 (Bretton Woods) | Washington DC | quotas, SDRs, BoP support |
| World Bank | 1944 | Washington DC | IBRD + IDA |
| WTO | 1995 (GATT 1947/48 before) | Geneva | 164 members, trade rules |
| ADB | 1966 | Manila | regional development bank |
| AIIB | 2016 | Beijing | India an early, large shareholder |
| New Development Bank | 2015 | Shanghai | BRICS bank; first president K.V. Kamath |
| FATF | 1989 | Paris | money-laundering watchdog (India member since 2010) |
Question types you will see
Each type: how to recognise it, the method step by step, and one question to try.
Regulator ↔ sector matching
'SEBI regulates', 'the insurance regulator is', 'who runs the NPS', matching each regulator with its market.
One line each: SEBI — securities; IRDAI — insurance; PFRDA — pensions (NPS/APY); RBI — banks, NBFCs, payments.
Year hooks: SEBI statutory 1992; IRDAI 1999; PFRDA statutory 2013 (interim 2003).
If the question names 'stock broker' or 'mutual fund', the answer is SEBI; 'policy-holder' points to IRDAI.
The regulation of the securities market in India vests in —
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SEBI, constituted in 1988 and made statutory by the SEBI Act, 1992; headquartered in Mumbai.
Institution ↔ headquarters
'SIDBI is headquartered at', 'the IRDAI sits in', matching development banks and regulators with cities.
Financial-sector HQs: SIDBI — Lucknow (the classic answer); IRDAI — Hyderabad; SEBI, NABARD, EXIM — Mumbai; NHB and PFRDA — New Delhi.
Multilaterals: IMF/World Bank — Washington; ADB — Manila; AIIB — Beijing; NDB — Shanghai; WTO — Geneva; FATF — Paris.
Lucknow and Hyderabad are the two 'surprise' HQs exams love.
The Small Industries Development Bank of India (SIDBI) is headquartered in —
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Lucknow — set up in 1990 as the apex refinancer for small industries (and MUDRA's fund manager).
Year ↔ founding event
'NABARD was established in', 'Asia's oldest stock exchange is', matching years with institutions.
India: BSE 1875 (Asia's oldest); NSE 1992/1994; NPCI 2008; NABARD 1982; SIDBI 1990; EXIM 1982; NHB 1988.
Multilaterals: IMF/WB 1944 (Bretton Woods); WTO 1995 (GATT 1947 before); ADB 1966; NDB 2015; AIIB 2016.
'Oldest exchange in Asia' = BSE, born as the Native Share & Stock Brokers' Association.
Which is Asia's oldest stock exchange?
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The BSE, Bombay (1875) — founded as the Native Share & Stock Brokers' Association; the NSE followed only in 1992.
Multilateral banks and funds
'The New Development Bank is headquartered at', 'which bank do BRICS countries own', 'the ADB was set up in', matching multilaterals with HQ and membership.
NDB (2015, Shanghai) = the BRICS bank; first president K.V. Kamath.
AIIB (2016, Beijing) — India an early member and second-largest shareholder.
IMF = balance-of-payments support, quotas and SDRs; World Bank = long-term development lending; both born at Bretton Woods, 1944.
The New Development Bank, set up by BRICS nations in 2015, is headquartered in —
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Shanghai — with K.V. Kamath as its first president; it funds infrastructure and sustainable development.
Indices, exchanges and payment rails
'The Sensex comprises', 'Nifty belongs to which exchange', 'UPI is operated by', matching index ↔ exchange and product ↔ operator.
Sensex — 30 stocks, BSE; Nifty 50 — NSE; both free-float market-cap weighted.
NPCI (2008) operates UPI, RuPay, IMPS, FASTag, NACH; UPI went live in 2016.
Depositories: NSDL and CDSL hold shares electronically — a frequent fourth option in such questions.
UPI is built and operated by —
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NPCI (National Payments Corporation of India, est. 2008) — the umbrella body behind UPI (live 2016), RuPay, IMPS and FASTag.
Shortcuts that save time
RBI-SEBI-NABARD = Mumbai; IRDAI = Hyderabad; SIDBI = Lucknow; PFRDA = New Delhi.
SIDBI headquarters?
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Lucknow (set up 1990).
IMF + World Bank both born at Bretton Woods (1944), both in Washington DC; WTO (1995, Geneva) replaced GATT (1947).
Where is the WTO headquartered?
Show solutionHide solution
Geneva.
ADB 1966 → Manila; AIIB 2016 → Beijing; NDB (BRICS) 2015 → Shanghai. India founding member in all three.
NDB headquarters?
Show solutionHide solution
Shanghai.
Mistakes to avoid
Where most students lose marks on this subtopic.
Placing SEBI in New Delhi — it is Mumbai; PFRDA is the Delhi one.
Saying India is an OECD member — India is not (it engages as a Key Partner).
Assuming the IMF chief is always a European — tradition, not rule; Georgieva (Bulgarian) is the current MD.
Quick revision
Read this the night before the exam.
SEBI 1992 Act, Mumbai; IRDAI 1999, Hyderabad; PFRDA 2013 Act, New Delhi (NPS).
NABARD 12-7-1982 (Shivaraman; from RBI agri refinance); SIDBI 1990 Lucknow; EXIM 1982; NHB 1988.
BSE 1875 (Asia's oldest) → Sensex 30; NSE 1992/94 → Nifty 50; NPCI 2008 → UPI 2016.
IMF/WB 1944 Washington; WTO 1995 Geneva; ADB 1966 Manila; AIIB 2016 Beijing; NDB 2015 Shanghai (BRICS); FATF Paris.
Practice: 12 questions
Sets of 10, mixed across the question types above. Every answer has a step-by-step explanation.
Topic test · 12 questions
Suggested time 5 min · wrong answers go to your mistake notebook automatically.