What is microfinance

Question

Accepted Answer

Microfinance is a type of financial service that provides small loans and other financial services to low-income individuals or groups who lack access to traditional banking services.

Microfinance aims to help alleviate poverty by providing financial services to those who are unable to access traditional banking services.
It typically involves small loans, savings accounts, insurance, and other financial products tailored to the needs of low-income individuals.
Microfinance institutions often target women and marginalized communities, as they are more likely to be excluded from the formal financial sector.
One of the most well-known examples of microfinance is the Grameen Bank in Bangladesh, founded by Muhammad Yunus.
Microfinance has been credited with empowering individuals to start small businesses, improve their livelihoods, and break the cycle of poverty.

What is microfinance

Top People's Forum Area Manager interview questions & answers

Popular interview questions of Area Manager

Top HR questions asked in People's Forum Area Manager