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SSC MTS 2024 PYQ — Question 46

SSC MTS - 28/10/2024 - (9:00 AM - 11:00 AM) • General Awareness • Q46

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In which year was the microfinance movement formally launched in India on a pilot basis?

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Correct answer: B

Explanation

The correct answer is option 2 i.e. 1992. 

  • The microfinance movement in India was formally launched on a pilot basis in 1992 by the National Bank for Agriculture and Rural Development (NABARD).
  • It began with the introduction of the Self-Help Group (SHG)–Bank Linkage Programme (SBLP), which aimed to provide easy access to credit for poor and rural women.
  • The 1992 launch marked a major shift toward empowering marginalised communities, reducing dependence on moneylenders, and supporting rural entrepreneurship. O