SSC Economics Sample Paper NCERT Sample Paper-7

  • question_answer
    Micro-finance includes which of the following?
    1. Small loans
    2. Small deposits
    3. Money transfer
    4. Payment services
    Select the correct answer using the codes given below.

    A)  1, 2 and 3 only

    B)  1, 3 and 4 only

    C)  2, 3 and 4 only

    D)  1, 2, 3 and 4

    Correct Answer: D

    Solution :

    [d] Microfinance refers to a variety of financial services that target low-income clients. Since the clients of microfinance institutions (MFIs) have lower incomes and often have limited access to other financial services, microfinance products tend to be for smaller monetary amounts than traditional financial services. These services include loans, savings, insurance, and remittances (payments).

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