Economics · Banking and Financial Institutions
Which of the following definitions best describes the concept of microfinance?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Financial services provided exclusively to high-net-worth agricultural investors.
- 2A digital-only international banking system designed for large multinational corporations.
- 3A banking and financial service provided to unemployed or low-income individuals or groups, who otherwise have no other access to financial services.✓
- 4A financial system meant exclusively for purchasing stocks and bonds.
Correct answer
A banking and financial service provided to unemployed or low-income individuals or groups, who otherwise have no other access to financial services.
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