BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

SIDBI is the principal development financial institution in India. In which year SIDBI was established?

A	1982
B	1990
C	1988
D	1992

Explanation:

Detailed explanation-1: -Small Industries Development Bank of India has been established under an Act of the Parliament in 1990.

Detailed explanation-2: -The SIDBI was established on April 02, 1990 by Government of India, as a wholly owned subsidiary of IDBI Bank . It was delinked from IDBI w.e.f. March 27, 2000.

Detailed explanation-3: -Small Industries Development Bank of India (SIDBI) was established under an Act of the Parliament in 1990.

Detailed explanation-4: -SIDBI was set up on 2nd April 1990. It acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector.

Detailed explanation-5: -The SIDBI (Small Industries Development Bank of India) is a wholly-owned subsidiary of IDBI (Industrial Development Bank of India), established under the special Act of the Parliament 1988 which became operative from April 2, 1990.

There is 1 question to complete.