1st to 10th January 2024 - NEDFi: Boosting Economic Development in Northeast India

Question 1

What does NEDFi stand for?

Answer 1

North Eastern Development Finance Corporation Ltd

Question 2

What kind of company is NEDFi?

Answer 2

A Public Limited Company

Question 3

What is NEDFi’s primary function?

Answer 3

To provide financial support to businesses (micro, small, medium, large) for industrial, infrastructure, and agri-allied projects in the North Eastern Region of India.

Question 4

What is the purpose of the NEDFi Micro Finance Scheme?

Answer 4

To provide loans to individuals and groups in underserved areas of the North Eastern Region for income-generating activities.

Question 5

What are the maximum loan amounts available under this scheme?

Answer 5

Up to ₹1 lakh per individual or group.

Question 6

Is collateral required for loans under this scheme?

Answer 6

No, collateral is not required.

Question 7

What does NEVF stand for?

Answer 7

North East Venture Fund

Question 8

What is the main goal of the NEVF?

Answer 8

To support and encourage start-up businesses in the North Eastern Region of India.

Question 9

How much capital is committed to the NEVF?

Answer 9

₹100 crore

Question 10

When was NEDFi established?

Answer 10

August 9th, 1995

Question 11

Under which act was NEDFi registered?

Answer 11

The Companies Act of 1956

Question 12

Besides loans, what other types of financial assistance might NEDFi provide?

Answer 12

It’s implied they might provide things like grants, equity investments, or technical support (the text doesn’t specify).

Question 13

What are the different sectors that NEDFi supports?

Answer 13

Industrial, Infrastructure, and Agri-allied

Question 14

How does the NEDFi Micro Finance Scheme differ from NEDFi’s regular financing options?

Answer 14

Micro Finance Scheme targets smaller borrowers, has lower loan amounts, no collateral requirements, and focuses on underserved areas.

Question 15

In what ways is the North East Venture Fund (NEVF) different from other NEDFi initiatives?

Answer 15

NEVF specifically focuses on start-ups and uses venture capital funding, which involves higher risk and potentially higher returns.

Question 16

What kind of positive impact could NEDFi’s activities have on the North Eastern Region?

Answer 16

Increased economic activity, job creation, development of infrastructure, support for small businesses, etc.

Question 17

What sorts of challenges might NEDFi face in fulfilling its mission?

Answer 17

Potential challenges could include lack of entrepreneurial spirit in some areas, difficulties reaching remote communities, or limited access to resources and technology.

Question 18

What is the North East Venture Fund (NEVF)?

Answer 18

The NEVF is a dedicated venture capital fund set up by NEDFi and MDoNER to support and encourage start-ups in the North Eastern Region of India.

Question 19

What is the capital commitment of the partners in the NEVF?

Answer 19

MDoNER: ₹45.00 crore
NEDFi: ₹30.00 crore
SIDBI: ₹25.00 crore