Question

Which of the following is NOT among the groups organised by microfinance institutions in India?

• A. Grameen Model Bank
• B. Joint Liability Group (JLG)
• C. Urban Model Bank
• D. Self Help Group (SHG)

Answer 1

Answer:

C. Urban Model Bank

• Urban Model Banks are not typically associated with microfinance institutions in the same way as JLGs, SHGs, and Grameen Model Bank.

• Microfinance institutions (MFIs) are financial entities that make small loans to persons who do not have access to traditional banking services.

• The term "small loans" is defined differently in different nations.

• Microloans are defined as loans of less than one lakh rupees in India which has recently been extended to three lakhs