Question : Which statement is correct:
Statement 1: NABARD is the apex bank of rural credit.
Statement 2:Self Help group provides a scheme of microfinance.
Option 1: Only statement 1
Option 2: Only statement 2
Option 3: Both of the above
Option 4: None of the above
Correct Answer: Both of the above
Solution :
A: India's premier development financial institution is called NABARD. Regarding strategy, planning, and operations in the area of credit, it was formed in 1982.
B: In India, the main type of microfinance is centered on women's Self Help Groups (SHGs), which are compact organizations with 10 to 20 members. These organizations solicit savings from their participants and loan money to them.
Hence option c is the correct answer.
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