BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Grameen
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Bantra
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Brae
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Spandana
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Detailed explanation-1: -Spandana was incorporated in 2003 as an NBFC after it took over the microfinance operations of a non-governmental organisation started by Padmaja Reddy in 1998. The company was classified as an NBFC– microfinance institution in 2015.
Detailed explanation-2: -Arohan also offers term loans to microfinance institutions. Arohan Financial Services Limited is the largest NBFC MFI in eastern India and is a subsidiary of The Aavishkaar Group.
Detailed explanation-3: -Notes: Bandhan Financial Services Private Ltd is Universal bank.
Detailed explanation-4: -It is worth mentioning here that the Self Employed Women’s Association (SEWA) Cooperative Bank, operating in Gujarat with similar objectives since 1974, is arguably the first microfinance programme in India.
Detailed explanation-5: -The most important function of microfinance in India is to provide small business owners with access to money. As was already said, microfinance in India offers access to loans, insurance, and savings accounts. By providing them with loans, the microfinance philosophy focuses on women as well.