| Micro-finance of 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 micro-finance is/are |
| 1. Credit facilities 2. Savings facilities |
| 3. Insurance facilities |
| 4. Fund Transfer facilities |
| Select the correct answer using the codes given below. |
A) Only 1
B) 1 and 4
C) 2 and 3
D) All of these
Correct Answer: B
Solution :
Exp. [b] Micro-finance has credit and fund transfer facilities. Savings are not accepted by MFIs. But some analysts think that micro-finance also involves savings as done by Self Help Groups. The Economic Survey 2009-10 points that MFIs are non-deposit taking institutions. Thus option is the correct answer.
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