Multiple choice

Microfinance is the provision of financial service to people of low-income groups.This includes both the consumers and the self-employed. The service/services rendered under microfinance is/are:

  1. Credit facilities
  2. Savings facilities
  3. Insurance facilities
  4. Fund Transfer facilities

Select the correct answer using the codes gives below the lists:

  1. 1 only

  2. 1 and 4 only

  3. 2 and 3 only

  4. 1, 2, 3 and 4
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Microfinance includes basic financial services including small loans, savings accounts, fund transfers and insurance. Alongside non-financial services such as business training, microfinance assists people living in poverty who wouldn\'t usually qualify for regular banking services because they have no form of collateral or formal identification.

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