Economics · Banking and Finance
In the context of microfinance in India, which of the following statements is NOT correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The term 'missing middle' is often used for low-income individuals or groups of our society who lose out on formal credit for want of collateral support.
- 2Microfinance provides 'micro' credit with collateral whatsoever to low-income individuals or groups of our society.✓
- 3Microfinance provides 'micro' credit with no collateral whatsoever to low-income individuals or groups of our society.
- 4Microfinance, also called microcredit, is the provision of small credit to low-income individuals or groups who otherwise would have no other access to financial services.
Correct answer
Microfinance provides 'micro' credit with collateral whatsoever to low-income individuals or groups of our society.
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