Microfinance typically serves low-income individuals and does not require traditional collateral from borrowers.
Which one of the following statements about a borrower from a Microfinance Company is not correct ?
Asked in UPSC CDS 2 2022 · Topic: Money & Banking (Non-Banking Financial Companies (NBFCs): Types, Regulation, and Significance)
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Answer: C. The borrower should not refuse to offer a col‐ lateral.
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