The micro finance movement in India was formally launched on a pilot basis by the _______________in __________.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. National Bank for Agriculture and Rural Development (NABARD); 1992.
- The beginning of the micro finance movement in India could be traced to the self-help group (SHG) - bank linkage programme (SBLP) started as a pilot project in 1992 by National Bank for Agricultural and Rural Development (NABARD).
- This programme not only proved to be very successful, but has also emerged as the most popular model of micro finance in India. Other approaches like micro finance institutions (MFIs) also emerged subsequently in the country.