Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Resource Mobilisation

Question:
Which of the following is the principal financial institution for promotion, financing and development of small-scale industries in India?
Options:
IDBI
SIDBI
IFCI
ICICI
Correct Answer:
SIDBI
Explanation:
SIDBI was established in April 1990, as a wholly owned subsidiary of IDBI, under the Small Industries Development Bank of India Act, 1990. SIDBI is the principal financial institution for promotion, financing and development of small-scale industries in India.