Question

Which of the following is an independent financial institution established in 1990 under an Act of the Indian Parliament. with the objective of assisting in the growth and development of Micro, Small and Medium Enterprises (MSMEs) sector?

• A. SIDBI
• B. NBFC
• C. MSS
• D. FSDC

Answer 1

Answer:

A. SIDBI

• SIDBI (Small Industries Development Bank of India) was established in 1990 to support MSMEs in India.

• Small Industries Development Bank of India (SIDBI) is an independent financial institution aimed at aiding the growth and development of Micro, Small and Medium Enterprises (MSMEs) which contribute significantly to the national economy in terms of production, employment and exports.

• 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.