Arrange the events in the ascending order of their occurrence. 1. Allowing convertibility of rupee at the market rate in the current account. 2. Nationalisation of general insurance business. 3. Establishment of IDBI. 4. Nationalisation of life insurance business. 5. Capital adequacy norms for commercial banks.

The correct answer is D.

1. Allowing convertibility of rupee at the market rate in the current account was done in 1994.
2. Nationalisation of general insurance business was done in 1972.
3. Establishment of IDBI was done in 1964.
4. Nationalisation of life insurance business was done in 1956.
5. Capital adequacy norms for commercial banks were introduced in 1991.

The following is a brief explanation of each option:

• Option A: This option is incorrect because it places the nationalisation of life insurance business before the establishment of IDBI. The nationalisation of life insurance business was done in 1956, while the establishment of IDBI was done in 1964.
• Option B: This option is incorrect because it places the introduction of capital adequacy norms for commercial banks before the allowing convertibility of rupee at the market rate in the current account. The introduction of capital adequacy norms for commercial banks was done in 1991, while the allowing convertibility of rupee at the market rate in the current account was done in 1994.
• Option C: This option is incorrect because it places the nationalisation of general insurance business after the allowing convertibility of rupee at the market rate in the current account. The nationalisation of general insurance business was done in 1972, while the allowing convertibility of rupee at the market rate in the current account was done in 1994.
• Option D: This option is the correct answer because it places the events in the ascending order of their occurrence.