Microfinance is the provision of financial services to people of low-income groups. This includes both the consumers and the self-employed. The service/ services rendered under micro-finance is/are: 1) Credit facilities 2) Savings facilities 3) Insurance facilities 4) Fund Transfer facilities Select the correct answer using the codes given below the lists:

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CollectorBabu · Accepted Answer

Correct Answer: 1, 2, 3 and 4. Microfinance results in financial services which take care about loans, savings accounts, fund transfers and insurance for nominal amounts. In case of non-financial services, microfinance helps people living in poverty which are not eligible for procuring banking services because of not having form of collateral or formal identification.

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