Question : In India, a microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs______ as of October 2022.
Option 1: Rs 1 lakh
Option 2: Rs 8 lakhs
Option 3: Rs 3 lakhs
Option 4: Rs 5 lakhs
Correct Answer: Rs 3 lakhs
Solution : The correct answer is Rs 3 lakhs
A microfinance loan is described by the Reserve Bank of India as a collateral-free credit granted to a household with an annual household income of up to Rs 3 lakh. As of June 30, 2022, the gross loan portfolio of the microfinance industry had increased from Rs 2.37 lakh crore to Rs 2.93 lakh crore, representing a 23.5% annual growth.
College Comparison based on Courses, Placement, Rank, Fee
Answer Key | Cutoff | Selection Process | Preparation Tips | Eligibility | Application | Exam Pattern
Question : Sam has an income of 9 lakh rupees yearly. Which tax slab (new regime) of India is applicable for him as per the new regime Income Tax Slab Rates FY 2021-22?
Question : As of October 2022, What is the term of the State Legislative Assembly in India as per the Indian Constitution?
Question : Which tax slab is applied in India if an Individual taxpayer’s annual taxable income is more than INR 15 lakh?
Question : Vikas has an income of INR 2.5 lakhs. Which of the following tax slabs of India applies to him?
Question : How many countries share the international land border with India as of 2022?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile