Small Industries Development Bank of India (SIDBI) has signed a Memorandum of Understanding (MoU) with which bank for providing concessional finance to micro and small enterprises (MSEs).

2017

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

A	Lakshmi Vilas Bank
B	Dena Bank
C	Axis Bank
D	Vijaya Bank

Explanation:

Detailed explanation-1: -The MoU was signed by Shri Lal Singh, Chief General Manager, Union Bank of India and Shri Vivek Kumar Malhotra, Chief General Manager, SIDBI. SIDBI is country’s principal financial institution engaged in the Promotion, Financing and Development of Micro, Small and Medium Enterprises (MSME).

Detailed explanation-2: -SIDBI offers Working Capital Assistance, Term Loan Assistance, Foreign Currency Loan, Support against Receivables, Equity Support, Energy Saving scheme for the MSME sector.

Detailed explanation-3: -SIDBI was established with the mission of facilitating and strengthening the flow of credit to Micro, Small and Medium Enterprises and for addressing the developmental and financial gaps in the ecosystem of MSMEs. It is a statutory body set up under an act of the Indian Parliament in 1990.

Detailed explanation-4: -Small Industries Development Bank of India(SIDBI) | Department of Financial Services | Ministry of Finance | Government of India.

There is 1 question to complete.