How does microfinance accept deposits?.
Micro Finance refers to the process of providing small loans to individuals in areas where supply of such financial or banking facilities is inadequate in order to empower them and make them self reliant.
Answer and Explanation:
Micro Finance Institutions are not allowed to accept any demand deposit as per the Reserve Bank of India (RBI). Hence, Micro finance institutions do not accept deposits.
Become a member and unlock all Study Answers
Try it risk-free for 30 daysTry it risk-free
Ask a question
Our experts can answer your tough homework and study questions.Ask a question Ask a question
Learn more about this topic:
from Corporate Finance: Help & ReviewChapter 8 / Lesson 7