Which of the following microfinance institutions was established in India at the time of independence?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Rural Cooperatives.
Rural Cooperatives were established in India around the time of independence. These institutions were part of the early efforts to promote rural development and financial inclusion by providing credit and support to farmers and rural communities. The establishment of rural cooperatives aimed to enhance agricultural productivity and improve the socio-economic conditions of rural populations. In contrast, Joint Liability Groups, Self Help Groups, and the Grameen Model Bank emerged later as part of various microfinance initiatives.