In which year was the State Financial Corporation Act passed The Act provides for the establishment ...........

General Studies (CHSL) Indian Economy

In which year was the State Financial Corporation Act passed? The Act provides for the establishment of state financial corporations.

1983

1951

1972

1947

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Explanation:

The Union Parliament passed the State Financial Corporation Act on September 28, 1951 empowering the state governments to establish financial corporations for their respective regions. This act came into force from 1st Aug. 1952. Many of its provisions are very much similar to those of the IFC Act of 1948.