With reference to the concept of microfinance in India, consider the following statements: 1. Microfinance focuses exclusively on the provision of microcredit facilities to lowincome groups, and excl…

Question

With reference to the concept of microfinance in India, consider the following statements: 1. Microfinance focuses exclusively on the provision of microcredit facilities to lowincome groups, and excludes insurance and savings. 2. The thrust of the microfinance initiative is to channelize production and consumption credit in multiple doses based on the absorption capacity of the prospective borrower. 3. It has evolved from 'charity-based' to 'thrift-based' and finally to 'trust and creditworthiness model'. 4. India has adopted the concept of microfinance from Bangladesh. How many of the statements given above is/are correct?

PYQPulse · Accepted Answer

Only three

PYQPulse · Answer

Explanation: Three statements are correct: microfinance covers savings and insurance too, so statement 1 is false; the rest describe its evolution and Bangladesh origins.

Answer: C. Only three

Explanation

Answer: C. Only three

Explanation