Which is incorrect about SIDBI?

Q.  SIDBI related statements are given. Pick the wrong statement.
- Published on 15 Feb 17

a. SIDBI means Small Industries Development Bank of India
b. It was established on April 2, 1990.
c. It is the principal financial institution for the promotion, financing and development of industry in the small-scale sector.
d. Its head office is in Hyderabad.

ANSWER: Its head office is in Hyderabad.
 
The headquarters of SIDBi is in Lucknow.

SIDBI is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for co-ordination of the functions of the institutions engaged in similar activities.

SIDBI has also floated several other entities for related activities.

  • Credit Guarantee Fund Trust for Micro and Small Enterprises provides guarantees to banks for collateral-free loans extended to SME.
  • SIDBI Venture Capital Ltd. is a venture capital company focused at SME.
  • SME Rating Agency of India Ltd. (SMERA) provides composite ratings to SME.
  • SARC - India SME Asset Reconstruction Company in 2009, as specialized entities for NPA resolution for SME.

SIDBI

Founded : April 2, 1990
Headquarter : Lucknow, Uttar Pradesh
Current Head : Dr. Kshtarapati Shivaji (Feb 27 2015 - Present)

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