Question
In India, Micro Finance Institutions primarily target
which segment of the population?Solution
In India, Micro Finance Institutions (MFIs) primarily target the economically weaker sections and low-income segments of the population. This includes rural and semi-urban households, particularly women, who typically have limited access to traditional banking services. The goal of MFIs is to provide financial services such as small loans, savings, and insurance to these underserved groups to promote financial inclusion and support their economic activities.
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