BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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to provide refinance for loans and advances extended by the primary lending institutions to SSI units and also to provide resources support to them
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it discounts and rediscounts bill arising from sale of machinery to or manufactured by industrial units in the SSI sector
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it extends seed capital/soft loan assistance under National Equity Fund, Mahila Udyan Nidhi and Mahila Vikas Nidhi and Seed Capital Schemes through specified lending agencies
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All of the above
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Detailed explanation-1: -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-2: -Functions of SIDBI It is the principal institution for the development, promotion and financing of the MSME sector and for coordination of functions of the institutions engaged in similar activities.
Detailed explanation-3: -SIDBI stands for Small Industries Development Bank of India. Small Industries Development Bank of India (SIDBI) was set up on 2nd April 1990 under an Act of the Indian Parliament.
Detailed explanation-4: -SIDBI provides direct, indirect, and microfinance facilities. Direct Finance: In the form of Term Loan Assistance, Working Capital Assistance, Support against Receivables, Foreign Currency Loan, Scheme of Energy Saving for MSME sector, equity support, etc.