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Question : Which among the following microfinance institutions was established in India at the time of independence?

Option 1: Joint Liability Group

Option 2: Rural Cooperatives

Option 3: Self Help Group

Option 4: Grameen Model Bank


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Team Careers360 24th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rural Cooperatives


Solution : The correct answer is Rural Cooperatives.

Following Indian independence, rural cooperatives were instituted to consolidate the resources of impoverished individuals, offering financial services through pooled funds. However, the system's intricate monitoring mechanisms proved challenging, and its benefits primarily favoured creditworthy borrowers in rural India.

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