Microfinance refers to an array of financial services including 1 small loans 2 small deposits 3 mon...........

Economic Affairs Financial Markets

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Microfinance refers to an array of financial services, including

1. small loans

2. small deposits

3. money transfer

4. payment services

Select the correct answer using codes below

1, 2 and 3 only

1, 3 and 4 only

2, 3 and 4 only

1, 2, 3 and 4

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Explanation:

Microfinance refers to a variety of financial services that target low-income clients. Since the clients of microfinance institutions (MFIs) have lower incomes and often have limited access to other financial services, microfinance products tend to be for smaller monetary amounts than traditional financial services. These services include loans, savings, insurance, and remittances (payments). So, microfinance is not limited to loans and deposits only, it includes other financial services also.