Question

Read the following passage carefully and answer the given questions. Certain words/phrases are given in bold to help you locate them while answering some of the questions.
Which of the following is a benefit of the Grameen system of microfinance?

• A. If a single member is unable to repay a loan, other group members will repay it.
• B. Dispensing with the expense of technology networks to monitor advances.
• C. It utilises the vast bank network already existing in a country.
• D. Group members can sanction loans and verify if borrowers have sufficient collateral.
• E. Backing that borrowers receive from other group members.

Answer 1

The correct option is E Backing that borrowers receive from other group members.

Backing that borrowers receive from other group members is a benefit of the Grameen system of microfinance.