BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It provides gainful financial services to unemployed and low-income individuals.
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It promotes saving of money by individuals.
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Interest rates are generally lower than those offered by normal banks.
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None of these.
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Detailed explanation-1: -The correct answer is Large amounts of loans. A large amount of loan is not a basic principle of micro-financial institutions in India. The functions of Microfinance institutions are: Maintain macroeconomic stability.
Detailed explanation-2: -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.
Detailed explanation-3: -D) It is mainly aimed to reduce the unemployment and poverty of a Country. Correct Answer: C) It is the credit policy which does not cover the insurance of the borrower.
Detailed explanation-4: -6. Which of the following is not the objective of the IMF? Explanation: Allotment of the loan to the private sector is not covered under the objectives of the IMF.