Which of the financial institutions was set up in 1990 for the promotion, financing and development of micro, small and medium enterprises?

ICICI

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SBI

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SIDBI

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FCI

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Solution

The correct option is C
SIDBI

Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.

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Similar questions

Q4. With reference to SIDBI, which of the following statements is/are correct?

1. It is a statutory body.

2. It acts as the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise.

Which of the above statement(s) is/are correct?

5. Consider the following statements,

Which of the following statements is/are incorrect?

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