Question
Which of the following statements is/are correct in regard to ‘microfinance’?
- Micro-credit extended by banks to individual is reckoned as a part of their priority sector lending.
- RBI has prescribed a particular model the banks to provide microfinance.
Answer: Option C
Answer: (c)Micro-credit extended by banks to individuals is reckoned as a part of their priority sector lending and no particular model has been prescribed for micro-finance and banks have been extended freedom to formulate their own models.
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Answer: (c)Micro-credit extended by banks to individuals is reckoned as a part of their priority sector lending and no particular model has been prescribed for micro-finance and banks have been extended freedom to formulate their own models.
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