Consider the following statements:
Which of the statements given above is/are correct?
Correct Option (c):
Statement 1: The National Housing Bank (NHB) was established in 1988 under the National Housing Bank Act, 1987. It was set up as a wholly owned subsidiary of the Reserve Bank of India (RBI) and functions as the apex institution for housing finance in India.
Statement 2: The Small Industries Development Bank of India (SIDBI) was established in 1990. It was initially set up as a wholly owned subsidiary of the Industrial Development Bank of India (IDBI) to promote and finance micro, small, and medium enterprises (MSMEs). SIDBI later became an independent statutory body.
Both statements accurately describe the initial ownership structure of NHB and SIDBI, respectively.
Incorrect Options:
Options (a) and (b) are incorrect because both statements 1 and 2 are factually correct. Therefore, selecting only one of them would be incomplete.
Option (d) is incorrect because both statements provided are accurate.