SIDBI has started full-fledged merchant banking operations to benefit the expanding number of growth-oriented MSMEs, especially those with a strong technology and innovation quotient. What is the meaning of D in SIDBI?

BANKING GENERAL KNOWLEDGE

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

SIDBI has started full-fledged merchant banking operations to benefit the expanding number of growth-oriented MSMEs, especially those with a strong technology and innovation quotient. What is the meaning of “D” in SIDBI?

A	Development
B	Department
C	District
D	Doing

Explanation:

Detailed explanation-1: -SIDBI VENTURE CAPITAL LIMITED (SVCL) Since inception, SVCL has continued to provide growth capital to deserving MSMEs across diversified sectors The funds managed by SVCL have been instrumental in generating a valuable growth momentum among key sectors of the economy.

Detailed explanation-2: -Role of SIDBI SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the MSME sector and coordination of the functions of the various Institutions engaged in similar activities.

Detailed explanation-3: -SIDBI helps MSMEs in acquiring the funds they require to grow, market, develop and commercialize their technologies and innovative products. The bank provides several schemes and also offers financial services and products for meeting the individual’s requirement of various businesses.

Detailed explanation-4: -The objectives of SIDBI are giving financial aid to MSMEs, refinancing banks and financial institutions, regulating the micro, small and medium enterprise financial companies, facilitating technology modernisation & upgradation .

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