Which of the following is an independent financial institution established in 1990 under an Act of the Indian Parliament, with the objective of assisting in the growth and development of Micro, Small and Medium Enterprises (MSMEs) sector?

Correct option is B

The correct answer is (B) SIDBI.

• SIDBI (Small Industries Development Bank of India) is an independent financial institution established in 1990 under an Act of the Indian Parliament. Its primary objective is to promote, finance, and develop the Micro, Small, and Medium Enterprises (MSMEs) sector in India.
• SIDBI plays a significant role in providing financial and developmental support to MSMEs to enhance their competitiveness in the market.

Key Facts about SIDBI:

• Established: April 2, 1990.
• Headquarters: Lucknow, Uttar Pradesh.

Other Options:

• NBFC: Non-Banking Financial Companies provide financial services but are not focused solely on MSMEs.
• MSS: Market Stabilization Scheme, aimed at managing liquidity in the economy.
• FSDC: Financial Stability and Development Council, a regulatory body, not involved in MSME financing.