Which of the following is NOT a common product offered by microfinance institutions in India?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. Credit cards.
Credit cards are NOT a common product offered by microfinance institutions in India. Microfinance institutions typically provide small loans, savings accounts, microinsurance, and other financial services tailored to low-income individuals who lack access to traditional banking services.
Credit cards, which involve revolving credit lines and are more complex financial products, are generally provided by commercial banks and financial institutions rather than microfinance institutions.