📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    ⚡ Azaadi sale - Celebrate Independence Day with Flat 55% Off On all courses! 13 to 17 Aug ⚡ Enroll Now

    Question

    Which of the following statements best defines a Micro

    Finance Institution (MFI)?
    A MFIs are investment firms that cater exclusively to high-net-worth individuals. Correct Answer Incorrect Answer
    B MFIs are non-profit organisations that provide financial services to low-income individuals and small businesses. Correct Answer Incorrect Answer
    C MFIs are banks that provide loans only to large corporations. Correct Answer Incorrect Answer
    D MFIs are government agencies that regulate the microfinance sector. Correct Answer Incorrect Answer

    Solution

    A financial institution that provides small loans and other financial services to individuals and small businesses who lack access to traditional banking services, typically focusing on low-income and underserved populations to promote financial inclusion and economic development.

    Practice Next

    Relevant for Exams:

    ask-question

    Not sure which exam is best for you Talk to our expert

    Get My Free Call