New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following is a key objective of Micro

    Finance Institutions in India?
    A Providing loans exclusively to women entrepreneurs Correct Answer Incorrect Answer
    B Encouraging large-scale industrialisation Correct Answer Incorrect Answer
    C Maximising profits for shareholders Correct Answer Incorrect Answer
    D Promoting financial inclusion and poverty alleviation Correct Answer Incorrect Answer

    Solution

    A key objective of Micro Finance Institutions (MFIs) in India is to provide financial services to the underserved and low-income populations, particularly in rural and semi-urban areas. This includes offering small loans, savings accounts, insurance, and other financial products to individuals and small businesses who do not have access to traditional banking services. The primary goal is to promote financial inclusion, alleviate poverty, and empower economically disadvantaged individuals, especially women, by enabling them to generate income and improve their livelihoods.

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