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

A. 4, 3, 2, 1, 5

B. 1, 2, 3, 4, 5

C. 4, 5, 3, 2, 1

D. 1, 5, 2, 3, 4

Answer: Option A