Economics · Financial Sector and Microfinance
What is the primary socio-economic objective of Microfinance Institutions (MFIs) in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To facilitate institutional foreign direct investment pathways into heavy manufacturing units.
- 2To provide small collateral-free loans and basic financial services to low-income individuals and self-help groups.✓
- 3To supply working capital credit limits exclusively to large-scale infrastructure businesses.
- 4To maximize discretionary consumer credit spending among high-income metropolitan groups.
Correct answer
To provide small collateral-free loans and basic financial services to low-income individuals and self-help groups.
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