BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who was provides refinance and promotional support to Bank for credit disbursement under the Self Help Group?
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NABARD
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NGO
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State Bank of India
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Central Bank
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Explanation:
Detailed explanation-1: -NABARD provides 100% refinance to banks for their direct lending to SHGs. Rate of interest on refinance will be determined by NABARD from time to time.
Detailed explanation-2: -NABARD later coopted many others as SHPIs including the rural financial institutions (RRBs, DCCBs, PACS), Farmers’ Clubs (FCs), SHG Federations, Individual Rural Volunteers (IRVs) etc. These stakeholders were encouraged to take up promotion of SHGs by way of promotional grant assistance from NABARD.
Detailed explanation-3: -NABARD, through the department of ‘Micro Credit Innovations’, has continued its role as the facilitator of microfinance initiatives in the country.
There is 1 question to complete.