BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The most prominent national level micro finance apex organisation providing micro credit services for women in India is
A
National Credit Fund for women
B
Mahila Samridhi Kosh
C
Rural Women Self Help Group
D
All of these
Explanation: 

Detailed explanation-1: -RMK provides micro-finance services to the needy and poor women in the informal sector through a client friendly, without collateral security and third party guarantee. The loans are granted for Income Generating Activities (IGA), housing, micro-enterprises, family needs, etc.

Detailed explanation-2: -What Is Microcredit? Microcredit is a common form of microfinance that involves an extremely small loan given to an individual to help them become self-employed or grow a small business. These borrowers tend to be low-income individuals, especially from less developed countries (LDCs).

Detailed explanation-3: -Micro credit refers to credit and other financial services provided to the poor through Self Help Groups (SHGs) and non government organisations. The Self Help Groups are playing a crucial role in meeting the credit requirements of the poor by inculcating saving habits among the rural households.

There is 1 question to complete.