SSC Economics Sample Paper NCERT Sample Paper-4

  • question_answer
    Consider the following functions
    1. Refinance loans and advances extended by the Primary Lending Institutions to small scale Industries (SSIs).
    2. Provides services like leasing, factory to SSIs.
    3. Discounts and rediscounts the bills arising from the sale of machinery to SSIs.
    Which of the functions given above is/are correct with respect to SIDBI?

    A)  1 and 2

    B)  Only 2

    C)  2 and 3

    D)  All of these

    Correct Answer: D

    Solution :

    [d] Small Industries Development Bank of India is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises (MSME) in India. Set up on April 2, 1990 through an act of parliament, it was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India. Currently the ownership is held by 33 Government of India owned / controlled institutions. The purpose of SIDBI is to provide refinance facilities and short term lending to industries. It is headquartered in Lucknow.

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