How the recently launched "India Aspiration Fund" is different from the "SMILE Fund"?

  1. While India Aspiration Fund is intended for funding start-ups in India SMILE fund will provide soft loan to MSMEs 
  2. Both India Aspiration Fund and SMILE fund will be managed by Small Industries development Bank of India (SIDBI)

Select the correct option from the codes given below:

Answer: [C] Both 1 & 2

SMILE Fund is a debt fund called SIDBI Make in India Loan for Enterprises (SMILE), which will provide soft term loans and loans in the nature of quasi-equity to MSMEs to meet debt-to-equity norms and pursue growth opportunities in existing MSMEs.

This question is a part of GKToday's Integrated IAS General Studies Module