Which specialized financial institution was established in India to provide refinance facilities and developmental credit specifically to the micro, small, and medium enterprises sector?

💡 Solution & Explanation

The Small Industries Development Bank of India was established under an Act of Parliament in nineteen ninety to act as the principal financial institution for promoting, financing, and developing the micro, small, and medium enterprises sector and coordinating allied functions. Industrial Finance Corporation of India historically financed large manufacturing enterprises. Export-Import Bank of India facilitates international trade financing. National Housing Bank regulates and refinances housing finance companies.