Govt of India has created a special fund called India Micro Finance Equity Fund of Rs. 100 crores. The fund is maintained by

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	IDBI Bank
B	RBI
C	ECGC
D	SIDBI

Explanation:

Detailed explanation-1: -NABARD IN NEWS The development finance institute earlier had a Rs 200-crore fund called Microfinance Development and Equity fund with which it has funded several large microfinance institutions and also small finance banks.

Detailed explanation-2: -Small Industries Development Bank of India(SIDBI) | Department of Financial Services | Ministry of Finance | Government of India.

Detailed explanation-3: -The Small Industries Development Bank or SIDBI was set up in 1990 to provide financial assistance to small-scale and cottage industries. It is the principal institution for providing financial aid at low rates of interest to micro, small, and medium enterprises.

Detailed explanation-4: -On the occasion of launch, Sushil Muhnot, Chairman and Managing Director, SIDBI said that Microfinance has emerged as a growing industry to provide poor people with access to quality financial services.

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