Question

A new scheme of performance and credit rating of small businesses is implemented through National Small Industries Corporation (NSIC) with the twin objectives of ______________.

• A. sensitizing the small industries about the need for credit rating
• B. encouraging the small business units to maintain good financial track record
• C. Both A and B
• D. None of the above

Answer 1

The correct option is C Both A and B

• This was set up in1955 with a view to promote, aid and foster the growth of small business units in the country.
  
• A new scheme of ‘performance and credit rating’ of small businesses is implemented through National Small Industries Corporation (NSIC) with the twin objectives of (i) sensitising the small industries about the need for credit rating and (ii) encouraging the small business units to maintain good financial track record.
  
• This is to ensure that they score higher rating for their credit requirements as and when they approach the financial institutions for their working capital and investment requirements.