MSME Questions Latest MSME MC@Q Objective Questions CER ABR he lial Start Complete Exam Preparation aC a a eee ra Glens Practice ean ere jon Bank Download App Ext Question 1: View this Question Online > Which of the following initiatives is related to MSME Sector? 1. Udyog Aadhar Memorandum. 2.A Scheme For Promotion Of Innovation, Rural Industry & Entrepreneurship (ASPIRE). Choose the correct code. 1. Tonly 2. 2only 3. Both 1 and2 4. More than onejofthe above \ of the above Answer (Detailed Solution Below) Option 3: Both 1 and 2coaching India’s Super Teachers for all govt. exams Under One Roof Go eee ad MSME Question 1 Detailed Solution The correct answer is Both 1 and 2. © key Points + As per the SMSE Act, 2006 the MSME are classified into two classes—mantfacturing and service enterprises—and they are defined in terms of investment in plant & machinery + Realising the importance of the sector, over time, the government has. undertaken a number of schemes for the establishment of new enterprises and the development of existing ones like: (Prime Minister's Employment Generation Programme] Credit Guarantee Trust Fund for MiéfOjand Small Enterprises) CLCSS (Credit Linked Capital Subsidy Scheme) fof Technology Upgradation SFURTI (Scheme of Fund for R&GBMeration of Traditional Industries) MSECD? (Micro and Small Enterprises-Cluster Development Programme + Some of the recent initiatives undertaket By the government for the promotion and development of the MSMEs have en below UAM (Udyog Aadhar Memorandum) @ The UAM scheme, notified in September 2015, to promote ease of doing business ™ Under it, entrepreneurs just need to file online entrepreneurs’ memorandum to get a unique Udyog Aadhaar Number (UAN)—a significant improvement over the earlier complex and cumbersome procedure. Hence, statement 1 is correct. Employment Exchange for Industries ®@ To facilitate matchmaking between prospective job seekers and employers an employment exchange for industries was set up in June 2015 (in line with Digital India) Framework for Revival and Rehabilitation of MSMEs: ™ Under this (May 2015), banks need to constitute a Committee for Distressed MSMEs to prepare a Corrective Action Plan (CAP) for them ASPIRE (Promoting Innovation and Rural Entrepreneurs) @ Launched in March 2015 with the objective of setting up a network of technology and incubation centres to accelerate entrepreneurship and promote start-ups for innovation and entrepreneurship in the rural and agriculture-based industry Hence, statement 2 is correct.India’s #1 Learning Platform RCo Car cotta Start Complete Exam Preparation et veniceall Jinn Download App Question 2: View this Question Online > With reference to the Micro Small and Medium Enterprises (MSMEs), Consider the following statements: 1. This sector is the largest employer of human resources in India. 2. It generates more employment opportunities per unit of capital invested compared to large industries. 3. These industries in India account for 45% of the industrial units in the country. ™» of the above statements are correct? 1. Only one 2. Only two 3. All three 4. None Answer (Detailed Solution Below) Option 1: Only one MSME Question 2 Detailed Solution The correct answer is Only one. © Key Points Micro, Small and Medium Enterprises (MSME): a a tg ite tenetand balanced regional development of the country. + These industries in India account for 95% of the industrial units in the country. Hence, Statement 3 is not correct. * Micro Small and Medium Evel st have the second-largest share in terms of human resource employebility he Agriculture sector. Hence, Statement 1 is not correct. + It supplies an enormous variety of mass consumption products which includes readymade garments, hosiery goods, stationery items, soaps and detergents, plastic and rubber goods, processed foods and vegetables, etc. + MSMEs sector generates more employment opportunities per unit of capital invested compared to large-scale industries. Hence, Statement 2 is correct. + That is why they are considered to be less capital intensive and more labour intensive. This is a boon for a labour surplus country like India. + With around 36.1 million units throughout the geographical expanse of the country, MSMEs contribute around 6.11% of the manufacturing GDP and 24.63% of the GDP from service activities. + MSME ministry has set a target to up its contribution to GDP to 50% by 2026 as India becomes a $5 trillion economy. + It contributes around 45% of the overall exports from India. al eee ca eee Start Complete Exam Preparation eon pe Peon Gi (Ce ere Go eos Doeriapes Download App Question 3: View this Question Online > Rajasthan government had exempted new MSMEs from inspections and approvals in 2019 for 3 years. Recently, the government has extended this policy for how many years? 5. Question Not Attempted‘Answer (Detailed Solution Below) Option 4:5 MSME Question 3 Detailed Solution The correct answer is § years, © Key Points + Rajasthan was the A. allow MSMEs to start businesses without any approvals for up to three years. + Taking another step further, the Chief Minister announced that they would not need approvals for 5 years. + This will increase the ease of doing business in the State. + Civ also announced thet Rajasthan Investment Promotion Scheme(RIPS)-2010 and RIPS-201le extended by another year. India’s #1 Learning Platform Ear y= Start Complete Exam Preparation alee ed ee MasterClasses oresieurd & Quizze: Download App Question 4: View this Question Online > Which of the following is a micro-finance programme? 1. local village bank 2. Selfhelp group 3. Purvanchal Bank NT: Gramin Bank5. Question Not Attempted Answer (Detailed Solution Below) Option 2: Self help group MSME Question 4 Detailed Solution The correct answer is Self-help group. @ Key Points + Self Help Groups (SHGs) are small groups of poor people. The members of an SHG face similar problems. They help each other, to solve their problems. + SHGs promote small savings among their members. The savings are kept with the bank. This is the common fund in the name of the SHG. The SHG gives small loans to itsmembers from its common fund + SHG is an informal group registered under any Societies Act. » Important Points + Major Functions of an SHG + Savings and Thrift: ee = All SHG members regularly save a smallamount. The amount may be small, but savings have to be a reguiar ntinuous habit with all the members. © "Savings first — cod ‘ould be the motto of every SHG member. + SHG members take ast ids self-dependence when they start small savings. They learn financial discipline through savings and internal lending. + Internal lending: > The SHG should use the savings amount for giving loans to members. 2 The purpose, amount, rate of interest, schedule of repayment etc, are to be decided by the group itself. * Proper accounts are to be kept by the SHG. + Discussing problems: = In every meeting, the SHG should be encouraged to discuss and try to find solutions to the problems faced by the members of the group. Individually, the poor people are weak and lack the resources to solve their problems. When the group tries to help its members, it becomes easier for them to face the difficulties and come up with solutions. » Taking bank loans; The SHG takes loans from the bank and gives it as loans to its members. & ERE Sen ert Ree ott Start Complete Exam Preparationba eee fore een Download App Question 5: View this Question Online > A start-up (a new business) that is estimated to be worth more than $10 billion is a company called? 1. Unicorn 2. Decacorn uo" 4. Hectocorn 5. Question Not Attempted Answer (Detailed Solution Below) Option 2: Decacorn MSME Question § Detailed Solution The correct answer is Decacorn. © Key Points + A start-up (a new business) that is estimated to be worth more than $10 billion is a company called Decacorn. + India has four decacorn startups namely, Flipkart, BYJU's, Paytm and Swiggy. (As of January 2022). &; Additional Informa’ + Unicorn * A privately-held startup company with a value of over $1 billion. + As of 25th March 2022, India is home to 94 unicorns. ¢ Bengaluru is India’s unicorn capital with the largest number of Unicorns headquarters followed by Delhi (NCR) and Mumbai.+ Soonicorn 2 Those businesses or startups that have the potential to become Unicorns are called Soonicorn. " » Itis soon going to become aeupicorn. + Hectocom = A company worth over $100 is called Hectocorn. = Itis also known as ‘Super Unicorn’. > Examples of Heactacom are Apple, Google, Microsoft, Facebook, Oracle, and Cisco. UNICORN valuation over $1 billion DECACORN valuation over $10 billion HECTOCORN valuation over $100 billion Top MSME MC@Q Objective Questions & Eee eto) Start Complete Exam Preparation aCe era Elen Practice Mock Test aces Oc Cresco ae et Download App Question 6 View this Question Online > The National Board for Micro; Small and Medium Enterprises meets once every months in a year, 1.6 ~ 2. 23a Answer (Detailed Solution Below) Option 1:6 MSME Question 6 Detailed Solution + The National AM cro, Small, and Medium Enterprises meets once every 6 months ina year. + It was established on 15 May 2007, having 47 members. + It is responsible for examining the factors affecting the development and promotion of MSMEs. + Italso gives advice to the Central government about the use of funds constituted in Section 12. India's #1 Learning Platform OR GeC Lar cost Start Complete Exam Preparation a ee a (ee Cpe Download App Question 7 View this Question Online > Match the following considering the classification of the Central Public Sector Enterprises List -I List - Il A. The company must have a | Miniratna Category —' status lalong with a Schedule ‘A’ listing. B.A profit RS 30 crore or more 2. Navratna fin one of the preceding three ears, IC. Average annual turnover of more than Rs. 25,000 crore. H. Maharatna 3. MiniratneNie 2. 1(©), 2A), 3(B) 3. 1(0), 20), 3(4) 4. 1(B). 2(0), 3(A) Answer (Detailed Solution Below) Option 2: 1(0), 2(A), 3(8) MSME Question 7 Detailed Solution The correct answer is 1(C), 2(A), 3(B). © Key Points + CPSEs are classified into 3 categories: Maharatna, Navratna, and Miniratna. + Eligibility Criteria to be considered for grant of Maharatna status: » Having Navratna status, > Listed on the Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. + Average annual turnover of more than RS. 25,000 crore, during the last 3 years. + The average annual net worth of more than Rs. 15,000 crore, during the last 3 years. > Average annual net profit after tax of more than Rs. 5,000 crore, during the last 3 ‘ years. OC + Should have a significant global presence/international operations G = There are ten ‘Maharatna’ CPSEs: Bharat Heavy Electricals Limited, C i Limited, GAIL (India) Limited, Indian Oil Corporation Limited, NTP‘ Natural Gas Corporation Limited, Hindustan Petroleum Corporatio (HPCL), Bharat Petroleum Corporation Limited (BPCL), Power ico (POWERGRID), and Steel Authority of India Limited. x + Eligibility Criteria to be considere it of Navratna status: + The Miniratna Category — | and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have a composite score of 60 or above in the six selected performance parameters, namely, net profit to net worth, manpower cost to total cost of production/services, profit before depreciation, interest, and taxes to capital employed, profit before interest and taxes to turnover, Nh ee eg eee,ae Z: @ inter-sectoral performance. + Eligibility Criteria to be considered for grant of Miniratna status: = Category -I CPSEs should have made a profit in the last three years continuously, the pre-tax profit should have been Rs. 30 crores or more in t least one of the three years and should have a positive net worth. + Category-lIl CPSEs should have made a profit for the last three years continuously and should have a positive net worth. + These CPSEs shall be eligible for the enhanced delegated powers provided they have not defaulted in the repayment of loans/interest payment on any loans due to the Government. a eee cad Start Complete Exam Preparation Reena cer if Elen ented Mock Tests MasterCl restating Extic a) Download App Question 8 View this Question Online > Which of the following statements is/are correct about National Infrastructure Pipeline? a) The National Infrastructure Pipeline (NIP) for FY 2020-25 is a first-of-its-kind, whole-of- government exercise to provide world-class infrastructure to citizens and improving their quality of life. b) To draw up the outline of the NIP, a High-Level Task Force was constituted under the chairmanship of the Secretary, Department of Economic Affairs (DEA), Ministry of Finance. 1. aonly 2. b only. ~ 3, Botha andb 4. Neithera nor b Answer (Detailed Solution Below)Option 3: Botha and b MSME Question 8 Detailed Solution The correct answer is Both a and b, + Investment in Infrastructure is necessary for growth. + To achieve the GDP of $5 trillion by 2024-25, India needs to spend about $1.4 mrillior (100lakh crore) over these years on infrastructure. + The challenge is to step-up annual infrastructure investment so that lack of infrastruéture does not become a binding constraint to the growth of the Indian economy. To implement an infrastructure program of this scale, it is important that projects are adequately prepared and launched. + NIP is expected to enable well-prepared infrastructure projects which will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth more inclusive. \ + NIP also intends to facilitate supply-Side interventions in infrastructure development to boost short-term as well as the potential GDP growth. Improved infrastructure capacities will also drive the competitiveness Indian economy. + The NIP has been made oi oe basis by aggregating the information provided by various stakeholders including #"® ministries, departments, state governments, and private sector across infrastructure sub-sectors, as identified in the ‘Harmonised Master List of Infrastructure’ + All projects (Greenfield or Brownfield, under conceptualization or under implementation or under Development) of project cost greater than Rs.100 crore per project were sought to be captured. oO Key Points + The NIP captures the Infrastructure vision of the country for the period FY20-26. This is the first-ever exercise undertaken in the country. However, it is recognized that financing of the National Infrastructure Pipeline would be a challenge. + Itis hoped that 2 bouquet of well-prepared projects would attract investment from Central and State Governments, Urban Local Bodies, Banks and Financial Institution, PE funds, and private investors, both local and foreign. India’s #1 Learning Platform Rec Dan cesta: Start Complete Exam Preparation ran aha ao artes Jie remy peri Download AppQuestion 9 oo" What is the limit of sor for small enterprises? 1. S crore ae ees 5 crore rupees View this Question Online > 3. Between 75 to 150 crores rupees 4, Between 150 to 200 crores rupees Answer (Detailed Solution Below) Option 1: 5 crores to 75 crores rupees MSME Question 9 Detailed Solution The correct answer is § erores to 78 crores rupees ct Confusion Points Oo - As Per the official question as answer key provided by WBCS ~\ & is ni option 1. + However, as per the data available as per the MSME the 6e ual turnover for small enterprises is not more than 50 crore. © Key Points NO * In line with energising MSMEs in the Qin Committee on Economic Affairs i (CCEA) under the Cha of Pri ister Shri Narendra Modi approved the upward revision of the MSME defi laying down effective implementation under the Atmanirbhar Bharat Pac + Updated Clas: ication of Micro Small Medium Enterprises are as follows: (Classification [Micro |Small Medium investment in |Not more Plant and han [Not more |Not more Machinery or Ig. _ {than Rs.10}than Rs50 Equipment lerore (crore icrore Not more|Not more |Not more [Annual Turnoverfthan Rs. [than Rs. |than Rs. IS crore [50 crore |250 crorePerera Ero) Start Complete Exam Preparation We au ered Cie Srnec RCC DR Sc Download App Question 10 View this Question Online > Which of the following is/are Incorrect: 1. Karve Committee is related to the MSME sector. 2. The Micro, Small, and Medium Enterprises (MSME) are classified into two enterprises as per the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006. 3. Small scale enterprise is one in which investment in Plant and/Machinery is more than twenty-five lakh rupees but does not exceed ten crore rupees 1. Land 2 only 2. Zand 3 only 3. 1and 3only © 4.1, 2and3 ~ Answer (Detailed Solution Below) Option 3: 1 and 3 only MSME Question 10 Detailed Solution The correct answer is 1 and 3 only. © Key Points + In 1955, the Village and Small-scale Industries Committee, also called the Karve Committee, noted the possibility of using small-scale industries for promoting rural development. + Honce, Statement 1 is incorrect. ~« A ‘small-scale industry’ ic defined ac the maximum investment allowed on +he assets of 2unit. + This limit has changed over a period of time. |n 1950 a small-scale industrial unit was one which invested a maximum of rupees five lakh. + It was believed that small-scale industries are more ‘labor-intensive i.e, they use more labor than the large-scale industries, therefore, generate more employment. + For this purpose, the production of several products wes reserved for the small-scale industry; the criterion of the reservation being the ability of these units to manufacture the goods. + They were also given concessions such as lower excise duty and bank loans at lower interest rates. > Important Points + The Micro, Small, and Medium Enterprises (MSME) are classified into ‘ two. enterprises as per the Micro, Small & Medium Enterprises Develo ge FED IA ct 2006. Hence, Statement 2 is correct. + These are - Manufacturing Enterprises + Service Enterprises _ Servite . Investment in plant & | Investment in machinery equipment Enterprises Micro} Does not Does not exceed rwenty-five lakh rupees [exceed ten lakh rupees. Enterprises More than twenty-five Ismali|lakh rupees but does More than ten not exceed five crore _|/#kh rupees rupees. Hence but does not Enterpsiteszement 2 is not jexceed two correct. crore rupees. More than two crore rupees but does not exceed five . |More than five crore Medi fUpees but does not lexceed ten crore rupees. ES Rs Sa India’s #1 Learning Platform Ree ee Start Complete Exam Preparation Pio Cites Download App aacWhich of the following is a micro-finance programme? G 1. local village bank 2. Self help group 3. Purvanchal Bank XO Answer (Detailed Solution Below) Option 2: Self help group MSME Question 11 Detailed Solution The correct answer is Self-help group. © Key Points + Self Help Groups (SHGs) are small groups of poor people. The members of an SHG face similar problems. They help each other, to solve their problems. + SHGs promote small savings among their members. The savings are kept with t This is the common fund in the name of the SHG. The SHG gives small loans G from its common fund * SHG is an informal group registered under any Societies Act. Nw » Important Points O + Major Functions of an SHG No? + Savings and Thrift: = All SHG members regularly save a 1. The amount may be small, but savings have to be a regular and cont ith all the members. » "Savings first — Crediglater” sl the motto of every SHG member. + SHG members tak: owards self-dependence when they start small savings. They learn financial disc ugh savings and internal lending. + Internal lending: = The SHG should use the savings amount for giving loans to members. 2 The purpose, amount, rate of interest, schedule of repayment etc, are to be decided by the group itself. © Proper accounts are to be kept by the SHG. + Discussing problems: = In every meeting, the SHG should be encouraged to discuss and try to find solutions to the problems faced by the members of the group. Individually, the poor people are weak and lack the resources to solve their problems. When the group tries to help its members, it becomes easier for them to face the difficulties and come up with solutions. » Taking bank loans: The SHG takes loans from the bank and gives it as loans to its members.er SR ARES karl) Start Complete Exam Preparation aoa eo Download App ‘Question 12 View this Question Online > In India, businesses with investment up to Rs. 1,Crore and turnover up to Rs. 5 Crore are known as: 1. Tiny Enterprise 2. Small Entetprisé 3 As 4. Medium Enterprise Answer (Detailed Solution Below) Option 3: Micro Enterprise MSME Question 12 Detailed Solution The correct answer is Micro Enterprise. © Key Points + In the revised definition, the investment limit has been revised upwards and additional criteria of turnover have been introduced. Micro - + Investment in Plant and Machinetyiof Equipment * Not more than Rs.1 crore and Annual Tupnover; not more than Rs. 5 crores. Hence the correct answer is option 3. ‘Small -+ Investment in Plant and Machinery or Equipment: + Not more than Rs.10 crore and Annual Turnover; not more than Rs. 50 crore. Medium - + Investment in Plant and Machinery or Equipment * Not more than Rs.50 crore and Annual Turnover; not more than Rs. 250 crore. Dae Rac CoC RE cect Start Complete Exam Preparation Pan boca Grote eae Download App Question 13 View this Question Online > Helpline ‘Udyami is meant for : 1. Micro, small, and medium enterprises 2. Large capital industries 3. Female entrepreneur’ 4. Farmers usinigtethtiology in farming ‘Answer (Detailed Solution Below) Option 1: Micro, small, and medium enterprises MSME Question 13 Detailed Sol The correct answer is Micro, small, and medium enterprises. + Udyami Helpline: » Udyami Helpline is a Call Centre of the Ministry of Micro, Small and Medium Enterprises (MSME), Government of India.® It was launched In 2010 to Work as a Single point laciiity for MoMEsS needing different kinds of information and accessibility of Banks and other MSME-related organizations. ¢ An enterprise for the purpose of this process will be known as Udyam and its Registration Process will be known as 'Udyam Registration’, + A permanent registration number will be given after registration. «+ After completion of the process of registration, a certificate will be issued online, © This certificate will have a dynamic QR Code from which the web page on’our Portal and details about the enterprise can be accessed. + MSME:- * In India, MSMEs contribute nearly 8% of the country’s GDP, around 45% of the manufacturing output, and approximately 40% of the country’s exports » It won't be wrong to em as the ‘Backbone of the country’. + The Government of India fa introduced MSME or Micro, Small, and Medium Enterprises in agree ith the Micro, Small, and Medium Enterprises Development (MSMED) Act of 2006. = These enterprises primarily engaged in the production, manufacturing, processing, or preservation of goods and commodities. + An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: + Micro-enterprise, where the investment in plant and machinery or equipment does not exceed 1 crore rupees and turnover does not exceed 5 crore rupees. + Small enterprise, where the investment in plant and machinery or equipment does not exceed 10 crore rupees and turnover does not exceed 50 crore rupees + Medium enterprise, where the investment in plent and machinery or equipment does not exceed 50 crore rupees and turnover does not exceed 250 crore rupees. cd ieee anu Rei! Start Complete Exam Preparation CR Ceo Lm cotta Pa nes A ) Tare ad eso resieiccag Exe) Download App Question 14 View this Question Online > Which one of the following is the prescribed investment limit for medium enterprises in the manufacturing sector as per the Micro, Small and Medium Enterprises Development Act. 2006? :1. More than Rs 10 lakhs and eo Sores 2. More than Rs 2 sss than Rs 5 crores AEE. and less than Rs 10 crores More than Rs 10 crores Answer (Detailed Solution Below) Option 3: More than Rs 5 crores and less than Rs 10 crores MSME Question 14 Detailed Solution ‘The correct answer is More than Rs 5 crores and less than Rs 10 crores, © Key Points + Micro, Small and Medium Enterprises: = Worldwide, MSMEs have been accepted as the engine of economic growth and for promoting equitable development. + They constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth EP With low investment requirements, operational fiexibility, and the capacity t appropriate indigenous technology. + MSMEs have the power to propel India to new heights. + Hence, it seems like there is a silent revolution happening i + As per the Micro, Small and Medium Enterprises Dev: 2006) + Micro enterprise, - investment in Plant an a joes not exceed Rs.25 lakhs. + Small enterprise - investment “x inery is more than Rs.25 lakhs but does in ered by MSMEs, 1006 (MSMED Act, not exceed Rs5 crore. + Medium enterprise - in) nt nd Machinery is more than RsS crore but does not exceed Rs.10 cr ce option 4 is correct. » Important Points + Revised Classification applicable w.e.f 1st July 2020 = Micro:- ™ Investment in Plant and Machinery or Equipment; Not more than Rs.1 crore. @ Annual Turnover: not more than Rs. § crores. > Small:- ® Investment in Plant and Machinery or Equipment: Not more than Rs.10 crore. @ Annual Turnover; not more than Rs. 50 crore, > Medium: ® Investment in Plant and Machinery or Equipment: Not more than Rs.80 crore. @ Annual Turnover: not more than Rs. 250 crore.eee se Dat RCD cesta Pela meu M eC li mr telat) Slee ened Dac MasterCl resietccig Ext) Download App ‘Question 15 View this Question Online > Which of the following is the assistance provided by SIDBI ? 1. Extending financial support to SSIDC and NSIC 2. Developing and upgrading technology particulaify for projects based on wastes 3. Developing small scale industries 2 @hcillariés to large scale industries 4. Procuring government orders for small scale units Pe of Solution Below) Option 1 : Extending financial support to SSIDC and NSIC MSME Question 15 Detailed Solution Small Industries Development Bank of India (SIDBI) + SIDBI is the Primary Financial Institution for promoting, developing, and financing MSME (Micro, Small, and Medium Enterprise) sector. + Besides focussing on the development of the Micro, Small, and Medium Enterprise sector, SIDBI also promotes cleaner production and energy efficiency. + It is the apex regulatory body in India for the overall regulation and licensing of microfinance institutions in India. It is under the jurisdiction of the Ministry of Finance, Government of India headquartered at Lucknow and having its offices all over the country. 0 Key-Points Modes of FinanceSIDBI provides direct, indirect, and microfinance facilities. . % sy 1, Direct Finance: in the form of Term Loan Assistance, Working Capital Assistance, Si against Receivables, Foreign Currency Loan, Scheme of Energy Saving for se support, etc 2, Indirect Finance: The Indirect assistance in the form of Refinance ‘0 Primary Lending Institutions (PLIs), comprising banks, State Level Financi is, etc. having a wide network of branches all over the country. The main obje nce Scheme is to increase the resource position of PLis which would ul 1¢ flow of credit to the MSME iItimatel sector, 3, Micro Finance: SiDBI provides microfit small entrepreneurs and businessmen for establishing their “aie Additional Infor ity SSIDC. Small Scale Industries Development Corporation. + Small Industries Development Corporations (SIDCO) are state-owned companies or agencies in the states of India which were established at various times under the policy of the Government of India for the promotion of small-scale industries. National Small Industries Corporation + National Small Industries Corporation Limited is a Mini Ratna government agency established by the Ministry of Micro, Small and Medium Enterprises, Government of India in 1955 It falls under the Ministry of Micro, Small & Medium Enterprises of India. Since SIDBI deals only with financial aids and distribution issues, therefore extending financial support to SSIDC and NSIC is the assistance provided by SIDBI.