Small Business and Entrepreneurship · Class 11 · CBSE · Commerce Business Studies
Which institution was established by the Government of India in 1955 with a view to promoting, aiding and fostering the growth of small business unit…
Practice question from Small Business and Entrepreneurship (Class 11 · CBSE · Commerce Business Studies), with the correct answer and a step-by-step solution.
medium · MCQ · Q-465008
Which institution was established by the Government of India in 1955 with a view to promoting, aiding and fostering the growth of small business units in the country?
- A.National Small Industries Corporation (NSIC)Correct answer
- B.Small Industries Development Bank of India (SIDBI)
- C.National Bank for Agriculture and Rural Development (NABARD)
- D.Industrial Finance Corporation of India (IFCI)
Solution
The National Small Industries Corporation (NSIC) was set up in 1955 to promote, aid and foster the growth of small scale industries in India, especially through material supply on hire-purchase and export assistance.
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