Economics · Banking and Financial Inclusion
How do microfinance institutions (MFIs) contribute to financial inclusion in remote rural areas of India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1By offering standardised loan products similar to traditional banks
- 2By focusing exclusively on urban micro-enterprises
- 3By relying solely on digital banking platforms for loan disbursement
- 4By establishing partnerships with local non-governmental organisations (NGOs) for outreach✓
Correct answer
By establishing partnerships with local non-governmental organisations (NGOs) for outreach
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