Question
Consider the following statements regarding Small
Industries Development Bank of India (SIDBI)- I.The SIDBI (Small Industries Development Bank of India) is a wholly-owned subsidiary of IDBI (Industrial Development Bank of India), established under the special Act of the Parliament 1988 which became operative from April 2, 1992. II.It offers a wide range of finance schemes to the Micro, Small, and Medium Enterprises (MSME) industry & the loan amounts can range from Rs.10 lakh to Rs.25 crore. III.Currently,it plans to float a Rs 10,000-crore rights issue next fiscal to expand its equity capital. Which of the following information is incorrect?Solution
The SIDBI (Small Industries Development Bank of India) is a wholly-owned subsidiary of IDBI (Industrial Development Bank of India), established under the special Act of the Parliament 1988 which became operative from April 2, 1990.Small Industries Development Bank of India (SIDBI) offers a wide range of finance schemes to the Micro, Small, and Medium Enterprises (MSME) industry. Loan amounts can range from Rs.10 lakh to Rs.25 crore. Small Industries Development Bank of India (SIDBI), which refinances SME loans, plans to float a Rs 10,000-crore rights issue next fiscal to expand its equity capital as it expects to grow assets to Rs 5 lakh crore by March 2024 from about Rs 4 lakh crore in March 2023.
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