Why did most microfinance institutions initially provide only credit services? Options: A . &nbspThey have to operate purely on a non-profit basis. B . &nbspTo ensure the poor have access to modern necessities like microwaves. C . &nbspThey were unable to compete with the interest rates offered on deposits by commercial banks. D . &nbspGovernment restrictions prevented them from offering additional services. E . &nbspNone of these

Why did most microfinance institutions initially provide only credit services?

Question

Why did most microfinance institutions initially provide only credit services?

Options:

A . They have to operate purely on a non-profit basis.

B . To ensure the poor have access to modern necessities like microwaves.

C . They were unable to compete with the interest rates offered on deposits by commercial banks.

D . Government restrictions prevented them from offering additional services.

E . None of these

Answer: Option A
Answer: (a)

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