Agreement between Indian Bank, SINE & IIT Bombay

Question : Indian Bank has recently(August 2021) signed an MoU with SINE & IIT-Bombay. Accordingly, which of the following statement is correct ?
Statements —

1. MoU has been signed to fund MSMEs and start-ups
2. The bank would extend loans of upto Rs 75 crore to the start-ups
3. SINE stands for Society for Innovation and Entrepreneurship
   Options —
   A Only 1. & 2.
   B Only 2. & 3.
   C Only 1. & 3.
   D All of the above
   Ans. C
   Related facts —

• Indian Bank has recently(August 2021) signed an MoU with SINE & IIT-Bombay.
• Key points related to the MoU —
• SINE stands for Society for Innovation and Entrepreneurship.
• MoU has been signed for extending exclusive credit facility to start-ups and Micro, Small and Medium Enterprises.
• The bank would extend loans of upto Rs 50 crore to the start-ups for purchase of machinery, equipment or to meet working capital requirements.

Link:
https://www.business-standard.com/article/finance/indian-bank-signs-mou-with-sine-iit-bombay-to-fund-msmes-start-ups-121080301944_1.html