UPSC General Studies Solved Paper - General Studies-2011

  • question_answer
    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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