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Business Studies

Types of Banks

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Question

Write a word or phrase or term which can substitute each one of the following statements.

Financial institution which is wholly owned subsidiary of IDBI.

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Solution

Financial institution which is wholly owned subsidiary of IDBI – Small Industries Development Bank of India (SIDBI).

Explanation:
Small Industries Development Bank of India (SIDBI) is a wholly owned subsidiary of IDBI. It was set up to provide direct and indirect financial assistance under different schemes. It caters to the credit and financial requirements of small-scale enterprises.

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