Question : Who is the regulator of Micro Finance Institutions in India?
Option 1: SEBI
Option 2: RBI
Option 3: NABARD
Option 4: SBI
Correct Answer: RBI
Solution : The correct option is RBI .
The microfinance industry is governed by the Reserve Bank of India (RBI), which also has the authority to impose a cap on MFIs' margins and interest rates.
MFIs are institutions that offer remittance services, pension or insurance services, thrift collection services, and microcredit facilities up to Rs 5 lakh.
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Question : MUDRA is a financial institution set up by the Government of India for the development and refinancing of micro-unit enterprises. The full form of MUDRA is:
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