In India all loans that are below __________ are considered as micro loans.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. one lakh rupees.
In India, any loan amounting to less than one lakh rupees (₹100,000) is categorized as a microloan. Such financial assistance is commonly extended to individuals, small enterprises, and entrepreneurs who face challenges accessing conventional banking facilities or lack substantial collateral required for larger loan amounts.