📝 Multiple Choice Question
Economics
Which of the following is a difference between self-help groups (SHGs) and microfinance institutions (MFIs) in India?
A
SHGs are non-profit organisations, while MFIs are for-profit organisations.
B
SHGs provide only credit, while MFIs provide a range of financial services.
C
SHGs are typically small, community-based organisations, while MFIs are larger and more formal institutions.
D
SHGs rely on government subsidies for funding, while MFIs rely on commercial sources of funding.
Explanation
Self-Help Groups are informal, community-based savings groups, whereas Microfinance Institutions are formal, registered entities that provide a wider array of financial products.
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