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In 2021,which financial institution entered into a collaboration with Google India Pvt Ltd (GIPL) for piloting a social impact lending programme with
Question

In 2021,which financial institution entered into a collaboration with Google India Pvt Ltd (GIPL) for piloting a social impact lending programme with financial assistance up to %1 crore at subsidised interest rates?

A.

IFCI

B.

NABARD

C.

IFCL

D.

SIDBI

Correct option is D

The correct answer is (d) SIDBI.
 In 2021, the Small Industries Development Bank of India (SIDBI) entered into a collaboration with Google India Pvt Ltd (GIPL) for piloting a social impact lending program.
 This program aimed to provide financial assistance of up to ₹1 crore at subsidized interest rates.
 The initiative focused on helping micro, small, and medium enterprises (MSMEs) that were adversely affected by the COVID-19 pandemic.
Information Booster:
IFCI (Industrial Finance Corporation of India): Established in 1948, it is one of the oldest financial institutions in India, focusing on the industrial sector.
NABARD (National Bank for Agriculture and Rural Development): Established in 1982, it provides credit for the promotion of agriculture, small-scale industries, and other rural sectors.
IFCL (India Infrastructure Finance Company Limited): A government-owned company established in 2006 to provide long-term financial assistance to infrastructure projects.
SIDBI (Small Industries Development Bank of India): Established in 1990, SIDBI is the principal financial institution for the promotion, financing, and development of the Micro, Small, and Medium Enterprises (MSME) sector in India.

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