Question

It was set up in 1955 to promote aid and faster the growth of small business units in India. It provide technology to SSI 's and create awareness on technological upgradation.

Options are given above.​

Answer 1

Answer:

(iii) National Small Industries Corporation (NSIC) This was set up in 1955 with a view to promote, aid and foster the growth of small business units in the country. Functions of NSIC include (a) Supply of machines on easy hire-purchase terms.

Answer 2

National Small Industries Corporation was set up in 1955 to promote aid faster the growth of small business units in India.

• Small business performance and chief credit rating system was introduced by NSIC to ensure scoring outstanding ratings for their credit criteria.
• It was to be met while approaching financial institutions for working capital and investment requirements.
• Other functions of the body include -

1. Procurement, supply and continuous distribution of raw materials.  
2. Procurement of machinery on simple hire purchase system.
3. Exporting small business unit's key commodities and developing export-worthiness.  
4. Serving as technology business incubators and creating awareness on technological innovation.  
5. Modern development of software technology parks and technology transfer centers.