CURRENT AFFAIRS

2020

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

Which state government and SIDBI to ink MoU for cluster-based development of MSMEs?

A	Uttar Pradesh
B	Rajasthan
C	Haryana
D	Goa

Explanation:

Detailed explanation-1: -KOLKATA: Small Industries Development Bank of India (SIDBI) has entered into a memorandum of understanding with the Bengal government to develop its MSME ecosystem.

Detailed explanation-2: -Earlier, Rajasthan had partnered with SIDBI to develop MSME ecosystem.

Detailed explanation-3: -Credit and finance for MSMEs: Principal financial institution for the promotion, financing and development of MSMEs SIDBI on Wednesday signed a memorandum of understanding (MoU) with the Madhya Pradesh (MP) government to set up Project Management Units (PMU) in the state, SIDBI announced on Twitter.

Detailed explanation-4: -SIDBI has now setup it’s Cluster Development Fund (SCDF) with support from the Reserve Bank of India. The funds extends support to various State Governments to create infrastructure for development of both greenfield (induced clusters) and brownfield (existing clusters) MSME Clusters.

Detailed explanation-5: -A cluster is a group of enterprises located within an identifiable and as far as practicable, contiguous area and producing same/similar products/services.

There is 1 question to complete.