The existence/establishment or’ formaI financial institutions that offer safe. reliable, and alternative financial instruments is fundamental in mobilising savings. To save, individuals need access to safe and reliable financial institutions, such as thanks, and to appropriate financial instruments and reasonable financial incentives. much access is not always available to all people in dex•e1oping countries like India and more so, in rural areas. Savings help poor honseholds manage volatility in cash flow smoothen consumption, and build working capital. Poor house1•.olds without access to a formal savings mechanism encourage immediate spending temptation With reference to the above passage, consider the following statements : 1.Indian financial institutions do not offer any financial instruments to rural households to mobilise their savings. 2. Poor households tend to spend their earnings/savings due to lack of access to appropriate financial instruments. Which of the statements given above is/are correct ?

The existence/establishment or’ formaI financial institutions that offer safe. reliable, and alternative financial instruments is fundamental in mobilising savings. To save, individuals need access to safe and reliable financial institutions, such as thanks, and to appropriate financial instruments and reasonable financial incentives. much access is not always available to all people in dex•e1oping countries like India and more so, in rural areas. Savings help poor honseholds manage volatility in cash flow  smoothen consumption, and build working capital. Poor house1•.olds without access to a formal savings mechanism encourage immediate spending temptation With reference to the above passage, consider the following statements : 1.Indian financial institutions do not offer any financial instruments to rural households to mobilise their savings. 2. Poor households tend to spend their earnings/savings due to lack of access to appropriate financial instruments. Which of the statements given above is/are correct ?