Question : Under the 2021 regulatory framework, what is the maximum tenure of a microfinance loan in India?
Option 1: 24 months
Option 2: 12 months
Option 3: 18 months
Option 4: 36 months
Correct Answer: 36 months
Solution : The correct answer is 36 months.
The borrower is not required to provide any security or collateral for microloans. The maximum repayment term of 36 months is maintained, with a 2-month moratorium period permitted as per 2021 regulatory norms.
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Question : Which regulatory body oversees microfinance institutions in India?
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