BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

Which of the following organizations is created specially for providing credit to small and medium enterprises in India?

A	NABARD
B	SIDBI
C	ECGC
D	AMFI

Explanation:

Detailed explanation-1: -Small Industries Development Bank of India (SIDBI): Established as wholly owned subsidiary of IDBI and SIDBI Act 1989.

Detailed explanation-2: -The Small Industries Development Bank of India (SIDBI) It was set up in 1990 with the mission of empowering the Micro, Small, and Medium Enterprises (MSME) sector to contribute and balanced regional financial institutions responsible for promotion, financing, and development of the section.

Detailed explanation-3: -The National Board for Micro, Small and Medium Enterprises (NBMSME) was established by the Government under the Micro, Small and Medium Enterprises Development Act, 2006 and Rules made thereunder.

Detailed explanation-4: -Answer and Explanation: SIDBI is a public financial institution as it doesn’t accept deposits and it lends for longer periods.

Detailed explanation-5: -Small Industries Development Bank of India(SIDBI) | Department of Financial Services | Ministry of Finance | Government of India.

There is 1 question to complete.