In which year was the Small Industries Development Bank of India (SIDBI) set up?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 1990.
The Small Industries Development Bank of India (SIDBI) was established on April 2, 1990, through an Act of Parliament. It was set up as a wholly-owned subsidiary of the Industrial Development Bank of India (IDBI), which later became its partner.
The primary objective behind the establishment of SIDBI was to provide financial and developmental support to the small-scale sector in India.