StudyRaah Maharashtra State Board · HSC Commerce · Class 11 (Std XI)
Class 11 OCM Chapter 6: Institutes Supporting Business
Short notes, key concepts, quick revision and practice MCQs with answers
Finance is the lifeblood of business. Various financial institutions and groups help small and micro businesses raise money and grow.
Key concepts: Institutes Supporting Business
- Finance
- Sources of money for a business: needed to start, run and expand it.
- SIDBI
- Small Industries Development Bank of India, set up on 2 April 1990 under the SIDBI Act, 1988. Head office at Lucknow; focuses on MSMEs.
- MSME
- Micro, Small and Medium Enterprises provide major employment; SIDBI strengthens credit flow to them.
- Self Help Groups (SHG)
- Small groups, mostly of women, that pool monthly savings and give loans to members, helping them earn extra income.
Quick revision: important points
- SIDBI started as a subsidiary of IDBI.
- SIDBI supports skills, technological upgradation and modernisation of MSMEs.
- Raising finance for a new business is difficult because risk is high.
Practice MCQs with answers
The 'lifeblood' of a business is:
- Finance
- Advertising
- Labour laws
- Location
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Answer: A. Finance
Finance is the basic foundation of economic activities.SIDBI was established on:
- 2 April 1990
- 15 August 1947
- 1 May 1960
- 26 January 1950
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Answer: A. 2 April 1990
SIDBI was set up on 2 April 1990.The head office of SIDBI is at:
- Lucknow
- Pune
- Nagpur
- Chennai
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Answer: A. Lucknow
SIDBI's head office is at Lucknow.SIDBI focuses mainly on:
- MSMEs
- Foreign banks
- Stock exchanges
- Cinema
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Answer: A. MSMEs
It supports micro, small and medium enterprises.SHG stands for:
- Self Help Group
- Small Head Group
- Simple Help Group
- State Housing Grant
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Answer: A. Self Help Group
Self Help Groups are usually run by women.
All Class 11 OCM chapters
- Chapter 1: Introduction of Commerce and Business
- Chapter 2: Trade
- Chapter 3: Small Scale Industry and Business
- Chapter 4: Forms of Business Organisation - I (Private Sector)
- Chapter 5: Forms of Business Organisation - II (Public Sector)
- Chapter 6: Institutes Supporting Business
- Chapter 7: Business Environment
- Chapter 8: Introduction to Management