Microfinance is the provision of financial services to people of low-income groups. This includes both the consumers and the self-employed. The service/services rendered under microfinance is/are:
- Credit facilities
- Savings facilities
- Insurance facilities
- Fund Transfer facilities
Select the correct answer using the code given below the lists:
- 1 only
- 1 and 4 only
- 2 and 3 only
- 1, 2, 3 and 4
Explanation
All are correct
- Microfinance provides a range of financial services to low-income individuals, including credit facilities through small, collateral-free loans, savings facilities to encourage financial security, insurance facilities such as microinsurance for health and life protection, and fund transfer services to facilitate remittances. These services collectively promote financial inclusion and economic empowerment.
