Question
SIDBI & GAME have collaborated for their NBFC Growth
Accelerator Program (NGAP).Which of the following statements is/are true regarding this collaboration ? I.The Small Industries Development Bank of India (SIDBI) and the Global Alliance for Mass Entrepreneurship (GAME) have selected 18 cohorts for their NBFC Growth Accelerator Program (NGAP). II. Designed as a 12 month initiative, the programme will offer mentorship from domain experts in areas such as risk management, corporate governance, and technology. III. It levies a fee of Rs 2 lakh per Non-Banking Financial Company (NBFC), a cost that is nearly 80 per cent subsidised.Solution
The Small Industries Development Bank of India (SIDBI) and the Global Alliance for Mass Entrepreneurship (GAME) have selected 18 cohorts for their NBFC Growth Accelerator Program (NGAP). Designed as a five-month initiative, the programme will offer mentorship from domain experts in areas such as risk management, corporate governance, and technology. It levies a fee of Rs 1 lakh per Non-Banking Financial Company (NBFC), a cost that is nearly 80 percent subsidised. This collaboration between SIDBI and GAME aims to enhance the lending capabilities of NBFCs focused on Micro, Small and Medium Enterprises (MSMEs). The initiative seeks to facilitate more reasonable credit rates for smaller NBFCs, thereby strengthening capital flow into the MSME sector.
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