SIDBI is ________ source of finance for small business. (Fill in the blank by choosing correct option)
a) Traditional
b) Institutional
c) Non institutional
Answers
Answer:
The correct option is B, i.e. Institutional.
Explanation:
According to this option, SIDBI is institutional source of finance for small business.
SIDBI stands for Small Industries Development Bank of India, which was first established in 1989.
It was a bank which provided financial assistance to its customers under various schemes. This included services to provide with direct finance services as well as indirect finance services.
The distinguished aspect about its services was that it provided services to small enterprises. The ones which mainly required financial and credit assistance.
Answer:
INSTITUTIONAL
Explanation:
Small Industries Development Bank of India abbreviated as SIDBI.
It is an institution that provides financial advice as well as financial help for the small industries which need promotion in their respective ventures.
It is headquartered at Lucknow in the state of Uttar Pradesh.
It is a subsidiary of the IDBI, Industrial Development Bank of India. It mainly promotes the MICRO, SMALL, MEDIUM Enterprise MSME.