Question : Microcredit or microfinance is a novel approach to bank with the poor. In this approach, bank credit is extended to the poor through_______.
Option 1: co-operative credit societies
Option 2: The Reserve Bank of India
Option 3: self-help groups
Option 4: Anganwadis
Correct Answer: self-help groups
Solution : The correct answer is self-help groups.
Microfinance is a program of credit offered to the underprivileged via Self-Help Groups (SHGs). To help the impoverished in rural, semi-urban, and metropolitan areas increase their income levels and improve their standard of living, microcredit entails offering them credit, thrift, and other lower-value financial services and products.
Related Questions
Know More about
Staff Selection Commission Combined Grad ...
Result | Eligibility | Application | Selection Process | Preparation Tips | Admit Card | Answer Key
Get Updates Brochure
Your Staff Selection Commission Combined Graduate Level Exam brochure has been successfully mailed to your registered email id “”.
Upcoming Exams
Trending Articles around SSC CGL
