BANKING GENERAL KNOWLEDGE
Question
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MFIs currently operate in 29 States, 4 Union Territories and 588 districts in India. MFIs stands for
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Microfinance Institutions
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Microfinance Indian
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Medium Institutions
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Market Institutions
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Explanation:
Detailed explanation-1: -Micro Finance Institutions (MFIs) currently operate in 29 States, 4 Union Territories and 563 districts in India. The reported 168 MFIs with a branch network of 10, 233 and 89, 785 employees have reached out to more than 3 crore clients with an outstanding loan portfolio of Rs. 46, 842 crore.
Detailed explanation-2: -The microfinance institution accompanies clients who do not have access to traditional banks.
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