Which of the following is a microfinance institution of India?

Correct option is D

The correct answer is (d) Arohan Financial Services.
Explanation:

• Arohan Financial Services is a microfinance institution in India that provides financial services to underprivileged and underserved sections, primarily in rural and semi-urban areas.
  
• Small Industries Development Bank of India (SIDBI) supports MSMEs but is not a microfinance institution.
  
• National Housing Bank (NHB) promotes housing finance institutions.
  
• Industrial Finance Corporation of India (IFCI) focuses on providing industrial finance.

Information Booster

• Microfinance Institutions (MFIs): These institutions provide small loans, savings, insurance, and financial literacy to individuals and businesses with limited access to traditional banking services.
  
• Examples of MFIs in India: Arohan Financial Services, Bandhan Bank (initially an MFI), SKS Microfinance (Bharat Financial Inclusion), and Ujjivan Small Finance Bank.
  
• Role in Development: MFIs help empower women, support self-employment, and promote financial inclusion in rural areas.
  
• Regulation: MFIs in India are regulated by the Reserve Bank of India (RBI).