Question

The fraud comes at a time when the unregulated microfinance industry is facing a crisis on its way of high-interest rates and low repayment of loans.

• A. because manner of
• B. since ways are
• C. by way of
• D. in the way of
• E. No correction required

Answer 1

The correct option is C by way of

'By way of' gives the idea of a medium or an agent, which is the need of the sentence.
Eg: The machine was made functional by way of changing a defective part.