Micro credit in India is significantly provided by Microfinance Institutions (MFIs), many of which are registered as Non-Banking Financial Companies (NBFCs). While commercial and cooperative banks also offer microcredit, the non-banking finance sector, particularly dedicated MFIs, plays a crucial role in extending financial services to the unbanked or underbanked population, which is the primary target of microcredit.
Micro credit in India comes under which one of the following activities ?
Asked in UPSC Combined Section Officer 2024 · Topic: Money & Banking (Non-Banking Financial Companies (NBFCs): Types, Regulation, and Significance)
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