Question : Choose the correct option in the context of given sentences.
Assertion: Self-help groups (SHGs) have emerged as an effective model for microfinance in India.
Reason: SHGs can pool resources and negotiate better loan terms with microfinance institutions.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are false.
Option 3: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 4: The assertion is true, but the reason is false.
Correct Answer: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Solution : The correct answer is Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Self-help groups (SHGs) are unofficial gathering places for individuals who want to work together to find solutions to better their living circumstances. It is best described as an autonomous, peer-run information network of people who share a common goal and come from comparable socioeconomic backgrounds. In India, self-help groups, or SHGs, have proven to be a successful microfinance model.
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Question : Under the 2021 regulatory framework, what is the maximum tenure of a microfinance loan in India?
Option 1: 24 months
Option 2: 12 months
Option 3: 18 months
Option 4: 36 months
Question : Which of the following is not a common product offered by microfinance institutions in India?
Option 1: Credit cards
Option 2: Personal loans
Option 3: Insurance products
Option 4: Savings accounts
Question : Which regulatory body oversees microfinance institutions in India?
Option 1: Reserve Bank of India (RBI)
Option 2: Ministry of Finance
Option 3: Insurance Regulatory and Development Authority of India (IRDAI)
Option 4: Securities and Exchange Board of India (SEBI)
Question : Which of the following statements is correct regarding the bank reserves? I. These reserves are kept partly as cash and partly in the form of financial instruments. II. Cash Reserves Ratio are deposits that commercial banks keep with the Reserve Bank of India.
Option 1: Only II
Option 2: Both I and II
Option 3: Only I
Option 4: Neither I nor II
Question : Name the river which is a reason for the dispute between India and Bangladesh?
Option 1: Teesta
Option 2: Brahmaputra
Option 3: Ganga
Option 4: None of the above
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