Question : A form of financial service which provides small loans and other financial services to poor and low-income households is called _____.
Option 1: microfinance
Option 2: commercial mortgage
Option 3: invoice financing
Option 4: personal finance
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Correct Answer: microfinance
Solution : The correct answer is microfinance.
A form of financial service that provides small loans and other financial services to poor and low-income households is typically referred to as "microfinance". Microfinance institutions (MFIs) aim to help empower individuals in impoverished communities by offering them access to financial resources, including small loans, savings accounts and other financial products.
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Question : National income received by the households is called_____.
Option 1: domestic income
Option 2: professional income
Option 3: personal income
Option 4: disposable income
Question : For commercial bank lending, the 'Priority Sector' denotes:
Option 1: self-employed
Option 2: agriculture and small-scale industries
Option 3: small industrialists
Option 4: small farmers
Question : According to the World Bank classification, India belongs to the category of ________.
Option 1: upper-middle income country
Option 2: low-income country
Option 3: lower-middle income country
Option 4: high-income country
Question : If we deduct depreciation from GNP the measure of aggregate income that we obtain is called _____.
Option 1: Gross domestic product
Option 2: National income
Option 3: Private income
Option 4: Net national product
Question : Which is not an All-India Service?
Option 1: Indian Administration Service
Option 2: Indian Police Service
Option 3: Indian Foreign Service
Option 4: Indian Forest Service
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