Read the following statements and choose the correct answer:
Statement I: Small Industry Development Bank of India (SIDBl) was set-up as a wholly owned subsidiary of RBI.
Statement II: SIDBI has taken over the responsibility of administering small industry development fund managed by IDBI.
A. Only I is correct
B. Only II is correct
C. Both I and II are correct
D. Both I and II are incorrect
Answer: Option B
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