Q. With reference to the Unorganised Money Market in India, consider the following statements:
1.Nidhis and chit funds are examples of unregulated non-bank financial intermediaries.
2.Indigenous bankers in India operate as homogenous groups across regions.
3.All unorganised money market entities in India are outside the recognition of the government.
Which of the statements given above is/are correct?
Answer: A
Notes:
Explanation:
- Chit funds and nidhis are unregulated NBFCs that function as part of the unorganised money market.
- Indigenous bankers are non-homogenous, with region-specific types like Gujarati Shroffs, Chettiars, etc.
- Unorganised entities like chit funds are recognised by the government even if not regulated.
Source: Indian Economy (Dr. Ramesh Singh)
