BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following are loans of very small amounts given to low income groups or poor household?
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Simple credit
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Rural credit
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Micro credit
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No Frills Loan
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Explanation:
Detailed explanation-1: -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-2: -Notes: Micro credit are the loans of very small amounts given to low income groups or poor household.
Detailed explanation-3: -Microfinance is a form of financial service which provides small loans and other financial services to poor and low-income households.
There is 1 question to complete.