JKSSB Mock Tests

Which of the following is an informal group consisting of 4 to 10 individuals who seek loans against mutual guarantee?

A. Self-help group
B. Rural cooperatives
C. Grameen model bank
D. Joint liability group
Answer: Option D
Solution (By JKSSB Mock Tests Team)
A Joint Liability Group (JLG) is a microfinance concept where a small group of people borrow money individually but stand as mutual guarantors for each other's loans.
This Question Belongs to: General knowledge mcqs Economics set 1

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