Discussion
Micro credit or micro finance is a novel approach to bank with the poor. In this approach bank credit is extended to the poor through
Answer: A
Correct answer: Self Help Groups
Microfinance reaches the poor through self-help groups - small groups, usually of women, who save together and to whom the bank lends as a group. The group’s joint liability substitutes for the collateral none of the members can offer, and peer pressure keeps repayment rates high.
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