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 the roles of Self Help Groups?
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Income generation for poor
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Access to banks for poor, financial inclusion
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Social Upliftment of marginal sections
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All of the above
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Explanation:
Detailed explanation-1: -They are an important source of microfinance services to the poor. They act as a go-through for formal banking services to reach the poor, especially in rural areas. They also encourage the habit of saving among the poor.
Detailed explanation-2: -The idea is to help them to organise themselves, assist them financially, provide them work, and help them in other matters, including domestic issues.
Detailed explanation-3: -The one which is not a feature of SHG, is that it is a informal source of credit because it belong to the formal sector as they charge much less interest than the informal source of credit who are moneylenders.
There is 1 question to complete.