Question

Micro-finance is the provision of financial services to the people of low income groups. This includes both consumer and the self-employed. The service/ services rendered under micro-finance is/are:
$1.$ Credit facilities
$2.$ Saving facilities
$3.$ Insurance facilities
$4.$ Fund transfer facilities
Which of the statements give above is/are correct?

• A. $1,2,3$ and $4$
• B. $1$ and $4$
• C. $2$ and $3$
• D. Only $1$

Answer 1

The correct option is A $1,2,3$ and $4$

Micro-finance is different from micro-credit- under the latter, small loans are given to the borrower but under micro-finance alongside many other financial services like savings accounts, insurance, credit facilities and fund transfer facilities.