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Small Business Test - 17

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Small Business Test - 17
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  • Question 1
    1 / -0
    What does RSBDC stand for?
    Solution
    RSBDC stand for Rural Small Business Development Centre .
    A Rural Small Business Development Centre (RSBDC) RSBDC is a government centre sponsored by NABARD for micro, small and medium businesses which is set up by world organization. The primary purpose of RSBDC is to work for socially and financially disadvantaged people and groups.

  • Question 2
    1 / -0
    SIDBI stands for ____________.
    Solution
    SIDBI stands for Small Industries Development Bank of India
    Small Industries Development Bank of India (SIDBI) set up on 2nd April 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities.
  • Question 3
    1 / -0
    NABARD was set up in __________.
    Solution
    NABARD was set up in 1982.
    NABARD was established on the recommendations of B.Sivaraman Committee,on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India, headquartered at Mumbai with regional offices all over India.
  • Question 4
    1 / -0
    A new scheme of performance and credit rating of small businesses is implemented through National Small Industries Corporation (NSIC) with the twin objectives of ______________.
    Solution
    • This was set up in1955 with a view to promote, aid and foster the growth of small business units in the country.
    • A new scheme of ‘performance and credit rating’ of small businesses is implemented through National Small Industries Corporation (NSIC) with the twin objectives of (i) sensitising the small industries about the need for credit rating and (ii) encouraging the small business units to maintain good financial track record.
    • This is to ensure that they score higher rating for their credit requirements as and when they approach the financial institutions for their working capital and investment requirements.
  • Question 5
    1 / -0
    When was the NSIC set up?
    Solution
    National Small Industries Corporation Limited (NSIC) is a Mini Ratna PSU established by the Government of India in 1955 It falls under Ministry of Micro, Small & Medium Enterprises of India.
  • Question 6
    1 / -0
    State the full form of NABARD____________________.
    Solution
    National Bank for Agriculture and Rural Development (NABARD).
    It is an apex development financial institution in India, headquartered at Mumbai with regional offices all over India.
  • Question 7
    1 / -0
    Government assistance for the development of rural industries insist on __________.
    Solution
    Government assistance for the development of rural industries insist on all of the above i.e utilisation of local resources,utilisation of raw materials and utilisation of locally available manpower.
    The core purpose of the government is to utilise the local manpower and locally available resources. Which are further transformed into action by local departments, agencies, corporations, etc.

  • Question 8
    1 / -0
    A new scheme of __________ of small businesses is implemented through NSIC.
    Solution
    A new scheme of performance and credit rating  of small businesses is implemented through NSIC. 
    NSIC in consultation with Credit Rating Agencies and Indian Banks’ Association has formulated a Performance and Credit Rating Scheme for Micro & Small Enterprises.  

    The National Small Industries Corporation (NSIC) has been appointed as a nodal agency by the Ministry of Micro, Small & Medium Enterprises to implement the scheme.
  • Question 9
    1 / -0
    Which of the following is true?
    Solution
    • NABARD was setup in 1982 to promote integrated rural development. Since then, it has been adopting a multi-pronged, multi-purpose strategy for the promotion of rural business enterprises in the country.
    • Apart from agriculture, it supports small industries, cottage and village industries, and rural artisans using credit and non-credit approaches.
    • It offers counselling and consultancy services and organises training and development programmes for rural entrepreneurs.
  • Question 10
    1 / -0
    ________ is the first of its kind set up by the world association for small and medium enterprises and is sponsored by NABARD.
    Solution
    • The Rural Small Business Development Centre (RSBDC) is the first of its kind set up by the world association for small and medium enterprises and is sponsored by NABARD. 
    • It is the first of its kind set up by the world association for small and
    medium enterprises and is sponsored by NABARD. It works for the benefit of socially and economically disadvantaged individuals and groups.
    • It aims at providing management and technical support to current and
    prospective micro and small entrepreneurs in rural areas.
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