Question
Download Solution PDFWhich of the following is NOT an initiative by the government for development of the microfinance sector in India?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Pradhan Mantri Jan Dhan Yojana.
Key Points
- Pradhan Mantri Jan Dhan Yojana:-
- It is a government initiative to provide access to financial services like banking, insurance, and pension to the underprivileged sections of society.
- Pradhan Mantri Jan Dhan Yojana is NOT an initiative by the government for the development of the microfinance sector in India.
Additional Information
- E-Shakti Initiative:-
- It is a program that aims to empower women by digitizing SHGs.
- The initiative provides a platform for SHGs to connect with banks, access credit, and avail of other financial services.
- The program also provides training to women on digital literacy and financial management.
- Pradhan Mantri Mudra Yojana:-
- It is a scheme that provides loans to micro and small enterprises.
- The scheme aims to promote entrepreneurship and support the growth of small businesses.
- The loans are provided under three categories- Shishu, Kishor, and Tarun, based on the stage of business development.
- India Micro Finance Equity Fund:-
- It is a government-sponsored fund that invests in microfinance institutions to support the growth of the microfinance sector.
- The fund aims to provide equity support to microfinance institutions and promote financial inclusion.
Last updated on Jul 8, 2025
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