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Which institution was formed on 2 April 1990?
IRBI
NHB
EXIM Bank
SIDBI
SIDBI
SIDBI (Small Industries Development Bank of India) was established on 2 April 1990 under an Act of the Indian Parliament to act as the principal financial institution for the promotion, financing, and development of the Micro, Small, and Medium Enterprises (MSME) sector. Its headquarters are located in Lucknow, Uttar Pradesh.
SIDBI (Small Industries Development Bank of India) was established on 2 April 1990 under an Act of the Indian Parliament to act as the principal financial institution for the promotion, financing, and development of the Micro, Small, and Medium Enterprises (MSME) sector. Its headquarters are located in Lucknow, Uttar Pradesh.
SIDBI functions as a statutory body established by the SIDBI Act, 1989, and operates under the jurisdiction of the Ministry of Finance, Government of India.
SIDBI was established on 2 April 1990 through an Act of Parliament.
The institution acts as a nodal agency for the implementation of various government schemes for the MSME sector.
The head office of SIDBI is situated in Lucknow, Uttar Pradesh.
IRBI (Industrial Reconstruction Bank of India) was later converted into IIBI (Industrial Investment Bank of India).
NHB (National Housing Bank) was established on 9 July 1988 under the National Housing Bank Act, 1987.
EXIM Bank (Export-Import Bank of India) was established on 1 January 1982.
SIDBI provides indirect finance to MSMEs through banks, NBFCs, and state-level financial corporations.
D is correct тАФ SIDBI was officially established on 2 April 1990 as the apex regulatory body for the MSME sector.
When preparing for financial exams, always associate institution establishment years with the specific Act passed by Parliament (e.g., SIDBI Act 1989, NABARD Act 1981, EXIM Bank Act 1981).
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