8 October 2024 : Daily Answer Writing
Q1) Critically assess the role of microfinance in satisfactorily addressing the interconnected challenges of poverty and unemployment. (150 Words/10 Marks) ANS Microfinance refers to small loans and other financial services designed, specifically for poor and low-income households who face difficulties in accessing formal finance. RBI has defined microfinance as any collateral-free loan provided to a…