Which of the following is NOT an initiative by the government for development of the microfinance sector in India?

Correct option is A

The correct answer is (a) Pradhan Mantri Jan Dhan Yojana.
• Pradhan Mantri Jan Dhan Yojana (PMJDY): This initiative is aimed at financial inclusion by providing access to banking, savings and deposit accounts, remittance, credit, insurance, and pension. It is not specifically focused on the development of the microfinance sector.
• Facts to Remember:
• E-Shakti Initiative: Launched by NABARD, this initiative aims to digitize Self Help Groups (SHGs) to enhance financial inclusion and is closely related to the microfinance sector.
• Pradhan Mantri Mudra Yojana (PMMY): This government scheme provides loans up to 10 lakh to non-corporate, non-farm small/micro enterprises, which is a core activity within the microfinance sector.
• India Micro Finance Equity Fund: Set up by the Government of India through SIDBI, this fund provides equity and quasi-equity support to Micro Finance Institutions (MFIs), directly supporting the microfinance sector.