BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is the small credit given to poor.
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It is the instalment given by Farmers against Loan.
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It is the amount given by Govt. for Small Industries Development.
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None of these.
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Detailed explanation-1: -Microcredit is used to describe small loans granted to low income individuals that are excluded from the traditional banking system. It is part of the larger microfinance industry, which provides not only credit, but also savings, insurance, and other basic financial services to the poor.
Detailed explanation-2: -Microcredit is a method of lending very small sums to individuals to start or expand a small business. Microcredit borrowers tend to be low-income individuals living in parts of the developing world; the practice originated in its modern form in Bangladesh.
Detailed explanation-3: -Some of the organisations that have taken up the responsibility of providing micro credit schemes to beneficiaries include: Small Industries Development Bank of India (SIDBI) National Bank for Agriculture and Rural Development (NABARD) National Handicapped Finance and Development Corporation (NHFDC)
Detailed explanation-4: -It is the small credit given to poor.
Detailed explanation-5: -Microcredit helps in the alleviation of poverty, employment, entrepreneurship, higher productivity from agriculture, women empowerment, gender equality, reduced rural outmigration, better health and education, green entrepreneurship, and adoption of modern technology/inputs in agriculture.