Role of State Financial Corporations (SFCs): Which sector do SFCs mainly support? Identify the enterprises that primarily receive SFC assistance in Indian states.
General Knowledge
Indian Economy
Difficulty: Easy
Choose an option
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ALarge-scale heavy industries only
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BSmall and medium-scale industrial units (SMEs/MSMEs)
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CAgricultural cooperatives only
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DForeign multinationals
Answer
Correct Answer: Small and medium-scale industrial units (SMEs/MSMEs)
Explanation
MandateUnder the SFCs Act, 1951, State Financial Corporations provide medium/long-term finance largely to small and medium industrial concerns within their states.
Final AnswerSmall and medium-scale industrial units (SMEs/MSMEs)