In India, Micro Finance Institutions primarily target which segment of the population?

Correct option is C

The correct answer is (c) Low-income individuals and small businesses.
 Micro Finance Institutions (MFIs) in India focus on providing financial services to low-income individuals and small businesses.
 These services include small loans, savings accounts, insurance, and other financial products tailored to the needs of marginalized communities.
 Microfinance has emerged as a vital tool for poverty alleviation and socio-economic development in India.
 By extending financial services to those who are traditionally excluded from the formal banking sector, MFIs contribute to improving livelihoods and fostering entrepreneurship at the grassroots level.
Facts to remember:
 The concept of providing minor credits to entrepreneurs and farmers to alleviate poverty was proposed by Lysander Spooner in the 1800s.
 The term "microfinancing" emerged during the growth of Bangladesh's Grameen Bank in the 1970s, founded by microfinance pioneer Muhammad Yunus.
 Grameen Bank formalized microfinance practices after its establishment in 1976.