Question : Microcredit or microfinance is a novel approach to bank with the poor. In this approach, bank credit is extended to the poor through_______.
Option 1: co-operative credit societies
Option 2: The Reserve Bank of India
Option 3: self-help groups
Option 4: Anganwadis
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Correct Answer: self-help groups
Solution : The correct answer is self-help groups.
Microfinance is a program of credit offered to the underprivileged via Self-Help Groups (SHGs). To help the impoverished in rural, semi-urban, and metropolitan areas increase their income levels and improve their standard of living, microcredit entails offering them credit, thrift, and other lower-value financial services and products.
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Question : State Bank of India was previously known as:
Option 1: Imperial Bank of India
Option 2: Canara Bank
Option 3: Syndicate Bank
Option 4: Co- operative
Question : If the Reserve Bank of India reduces the cash reserve ratio(CRR), what will be its effect on credit creation?
Option 1: Increase in the credit
Option 2: Decrease credit creation
Option 3: Have no impact on credit creation
Option 4: Have no definite impact on credit creation
Question : Who decides the savings and loan activities in a Self Help Group (SHG)?
Option 1: Private bank
Option 2: Reserve Bank of India
Option 3: Members of the group
Option 4: Non-government organisations
Question : On 20 July 2021, the Supreme Court struck down certain provisions of part IXB of the Constitution of India. Part IXB was related to:
Option 1: Panchayats
Option 2: Municipalities
Option 3: Co-operative societies
Option 4: Sub-ordinate courts
Question : The second Green Revolution aims to increase agricultural output to promote
Option 1: availability of easy credit to big farmers
Option 2: co-operative farming
Option 3: inclusive growth
Option 4: development of rural sector
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