CBSE 2021 Class 12 Economics Term 1 Paper

Question : 18 of 60

Marks: +1, -0

Identify which of the following statement is not correct with reference to Self Help Groups?
(Choose the correct alternative)

Group members in need of funds can borrow at nominal rate of interest.
Borrowings in micro-credit system are mainly taken for consumption purposes.
Micro-credit-system has helped men in rural areas to become self-dependent.
Formal credit system has failed to provide credit to the needy people in the rural areas.

Solution:

(c) Micro-credit-system has helped men in rural areas to become self-dependent.
Explanation: Micro-credit-system helped women in rural areas to become self-dependent not men.

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