Discussion
Which of the following was established in 1990 as a wholly owned subsidiary under the Small Industries Development Bank of India Act, 1989 ?
Answer: B
The answer is SIDBI.
The Small Industries Development Bank of India was established on 2 April 1990 under the SIDBI Act, 1989, as a wholly owned subsidiary of IDBI, the Industrial Development Bank of India. It is the principal financial institution for promoting, financing and developing micro, small and medium enterprises. Ownership was later transferred to public sector banks, insurers and other institutions.
The RBI was set up in 1935 under its own Act, NABARD in 1982, and ICICI in 1955 as a private development finance institution, so none of them was created by the SIDBI Act.
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