SIDBI exam results: Assistant Manager Grade-A announced

The Small Industries Development Bank of India (SIDBI) has declared the results for recruitment to the Assistant Manager Grade-A post for the year 2014.

The examination was held on September 2 and 3, 2014. Candidates have been shortlisted for the interview and the call letter is available for download on the official website.

SIDBI conducted the examination to hire Assistant Managers. Candidates were tested in five subjects that included reasoning ability, English/Hindi language, quantitative aptitude, general awareness (especially related to banking sector) and computer awareness. There were 200 multiple-choice questions and sessional cutoff score in each subject was necessary to cross the examination along with scoring a total cutoff marks out of 200. One fourth mark of the mark assigned to a question was deducted for each wrong answer.

SIDBI is a non-independent financial institution, meant to aid the growth and development of micro, small and medium scale enterprises (MSMEs). It was set up on April 2, 1990 under the act of Parliament. It is incorporated as a wholly owned subsidiary of IDBI (Industrial Development Bank of India).

SIDBI ranks among the top thirty development banks of the world. Its principal aim is to promote, finance and help in the development of micro, small and medium scale enterprises which will help to boost the economy of India at a large scale. MSMEs contribute significantly to the national economy in terms of production, employment and exports.

Recently, SIDBI has also opened a number of branches called Micro Finance branches aimed at dispensing loans to micro, small and medium scale enterprises up to Rs 5 lakh.