Question : Which of these Micro Finance Institutions (MFIs) are not regulated by the Reserve Bank of India (RBI)?
Option 1: Small finance bank-led MFIs
Option 2: Bank-led MFIs
Option 3: NBFC MFIs
Option 4: Non-profit MFIs
Correct Answer: Non-profit MFIs
Solution : The answer is Non-profit MFIs.
In general, microfinance institutions in India fall into three categories: mutual benefit, for-profit, and not-for-profit. Only non-banking financial businesses, or NBFC-MFIs, which are for-profit microfinance institutions, are subject to Reserve Bank of India (RBI) regulation.
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