The correct answer is: A. IDBI
IDBI (Industrial Development Bank of India) is a state-owned development financial institution in India. It was established in 1964 to provide financial assistance to industrial projects in India. IDBI has a wide range of products and services, including loans, guarantees, venture capital, and equity investments.
In 2018, IDBI launched a special refinance scheme for the resettlement and rehabilitation of voluntary retired workers of the National Textile Corporation of India (NTC). The scheme is aimed at providing financial assistance to these workers to help them set up their own businesses or find alternative employment.
The scheme provides loans up to Rs. 10 lakh at an interest rate of 8% per annum. The loan tenure is up to 10 years. The scheme is open to all voluntary retired workers of NTC who have completed at least 20 years of service.
To avail the benefits of the scheme, the workers need to apply to IDBI. The application form can be downloaded from the IDBI website. The application form should be accompanied by the following documents:
- Proof of identity
- Proof of address
- Proof of employment
- Retirement certificate
- Bank account details
The application will be processed by IDBI and the loan amount will be disbursed directly to the worker's bank account.
The scheme is a welcome initiative by IDBI to help the voluntary retired workers of NTC. The scheme will provide them with financial assistance to help them set up their own businesses or find alternative employment. This will help them to improve their livelihood and lead a better life.
The other options are incorrect because they are not development financial institutions in India.