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

The correct answer is Pradhan Mantri Jan Dhan Yojana.

Key Points

• Pradhan Mantri Jan Dhan Yojana:-
  • ​It is a government initiative to provide access to financial services like banking, insurance, and pension to the underprivileged sections of society.
  • Pradhan Mantri Jan Dhan Yojana is NOT an initiative by the government for the development of the microfinance sector in India.

Additional Information

• E-Shakti Initiative:-
  • It is a program that aims to empower women by digitizing SHGs.
  • The initiative provides a platform for SHGs to connect with banks, access credit, and avail of other financial services.
  • The program also provides training to women on digital literacy and financial management.
• Pradhan Mantri Mudra Yojana:-
  • It is a scheme that provides loans to micro and small enterprises.
  • The scheme aims to promote entrepreneurship and support the growth of small businesses.
  • The loans are provided under three categories- Shishu, Kishor, and Tarun, based on the stage of business development.
• India Micro Finance Equity Fund:-
  • It is a government-sponsored fund that invests in microfinance institutions to support the growth of the microfinance sector.
  • The fund aims to provide equity support to microfinance institutions and promote financial inclusion.