| What is/are incorrect about the idea of 'micro-finance in India? Select your answer using the code give below: |
| 1. Micro-finance (MF) is a small-scale financial intermediation, inclusive of savings, credit, insurance, business services and technical support provided to the needy borrower. |
| 2. The thrust of the MF initiative is to channelize production and consumption credit in multiple doses based on the absorption capacity of the prospective borrower. |
A) Only 1
B) Only 2
C) 1 and 2
D) neither 1 nor 2
Correct Answer: D
Solution :
Micro-finance (MF) is a small-scale financial intermediation, inclusive of savings, credit, insurance, business services and technical support provided to the needy borrower. The thrust of the MF initiative is to channelize production and consumption credit in multiple doses based on the absorption capacity of the prospective borrower. The presumption here is that the borrowers possess basic financial literacy and requisite capacity to operate their self-determined economic ventures profitably.
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