Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Microfinance is the provision of financial services to people of low-income groups. This includes both the consumers and the self-employed. The service/services rendered under microfinance is/are:

1. Credit facilities
2. Savings facilities
3. Insurance facilities
4. Fund Transfer facilities

Select the correct answer using the codes given below the lists:

• A. 1 only
• B. 1 and 4 only
• C. 2 and 3 only
• D. All of the above

Answer 1

The correct option is D All of the above

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Microfinance, also called microcredit​, is a type of banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services.

All the above functions - Credit, Savings, Insurance and Fund Transfer facilities are made available under microfinance.