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Question
Who are the primary beneficiaries of microfinance services?
Who are the primary beneficiaries of microfinance services?
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Solution
The correct option is C Self-help groups
Microfinance services provide micro credit facilities to people to promote self-employment. Generally, the beneficiaries of microfinance services are various small self-help groups.
Self-help groups are small groups with usually not more than 20 members. Members of these groups meet up and save money on a regular basis. They use their savings as capital in their various business operations. Banks too provide them loans at a low interest rate. This amount is disbursed as loan among the members in need. Thus, it helps in mobilising money from individuals for collective development.
Microfinance services provide micro credit facilities to people to promote self-employment. Generally, the beneficiaries of microfinance services are various small self-help groups.
Self-help groups are small groups with usually not more than 20 members. Members of these groups meet up and save money on a regular basis. They use their savings as capital in their various business operations. Banks too provide them loans at a low interest rate. This amount is disbursed as loan among the members in need. Thus, it helps in mobilising money from individuals for collective development.
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