| 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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