Question: Why did most microfinance institutions initially provide only credit services? (a) They were unable to compete with the interest rates offered on deposits by commercial

Why did most microfinance institutions initially provide only credit services?

(a) They were unable to compete with the interest rates offered on deposits by commercial banks.

(b) They have to operate purely on a nonprofit basis.

(c) Government restrictions prevented them from offering additional services.

(d) To ensure the poor have access to modern necessities, like microwaves.

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