Question
Which of the following is a key objective of Micro
Finance Institutions in India?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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With reference to Mizoram becoming India’s first fully literate state, consider the following statements:
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