Economics · Indian Banking and Finance
What is the primary purpose of microfinance institutions (MFIs) in India?
- 1To facilitate foreign investment in the Indian economy
- 2To provide small loans and financial services to low-income individuals✓
- 3To offer financial services exclusively to large businesses
- 4To promote consumer spending among middle-class households
Correct answer
To provide small loans and financial services to low-income individuals
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