New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    Who issued guidelines for the microfinance institutions

    in India?
    A Finance Ministry Correct Answer Incorrect Answer
    B NABARD Correct Answer Incorrect Answer
    C State Government Correct Answer Incorrect Answer
    D Reserve Bank of India Correct Answer Incorrect Answer

    Solution

    In India, the guidelines for microfinance institutions (MFIs) are issued by the Reserve Bank of India (RBI). The RBI regulates and oversees the operations of microfinance institutions to ensure their compliance with financial norms and to safeguard the interests of borrowers. These guidelines cover various aspects, such as interest rates, transparency, and lending practices, aimed at protecting low-income borrowers and ensuring responsible lending practices in the microfinance sector.

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