Question
SIDBI
Answer :
Word Count : 261
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Small Industries Development Bank of India (SIDBI) is the principal financial institution established for the promotion, financing, and development of Micro, Small and Medium Enterprises in India. It was set up in 1990 as a wholly owned subsidiary of the Industrial Development Bank of India and later became an independent statutory body. SIDBI plays a pivotal role in strengthening the MSME sector, which is considered the backbone of the Indian economy due to
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