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Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> <!--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
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B
1 and 4 only
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C
2 and 3 only
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D
1, 2, 3 and 4
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Solution

The correct option is D 1, 2, 3 and 4
<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> <!--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.

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