Question : Which regulatory body oversees microfinance institutions in India?
Option 1: Reserve Bank of India (RBI)
Option 2: Ministry of Finance
Option 3: Insurance Regulatory and Development Authority of India (IRDAI)
Option 4: Securities and Exchange Board of India (SEBI)
Correct Answer: Reserve Bank of India (RBI)
Solution : The correct option is the Reserve Bank of India (RBI) .
The regulatory body that oversees microfinance institutions in India is the Reserve Bank of India (RBI). The RBI regulates and supervises microfinance activities in the country to ensure their stability and compliance with applicable regulations.
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