Question
As per RBI's regulatory framework (2022), a microfinance
loan is defined as a collateral-free loan given to a household with annual income up to how much?Solution
As per the updated RBI definition (March 2022), a microfinance loan is defined as a collateral-free loan to a household whose annual income does not exceed ₹3 lakh, regardless of the lending institution (banks, NBFCs, MFIs, etc.). This uniform definition aims to expand access to small borrowers and harmonize credit assessment norms across lenders.
Which planet is known as the 'Red Planet' due to its iron oxide-rich rocks?
A tailor-made aircraft for Indian specifications and integrating Indian systems and avionics built under license by India's Hindustan Aeronautics Limite...
Which organization released a report stating that NBFC-MFIs are the largest providers of micro-credit in India?
World Diabetes Day is observed annually on which of the following days?
What is the purpose of the Viability Gap Funding (VGF) scheme approved for offshore wind energy projects?
When did the Geological Survey of India (GSI) commemorate its 174th Foundation Day in 2024?
Which of the following statements about Fundamental Duties in India is correct?
(I) They are described under Part V of the Indian Constitution.
Auraiya is known as?
Who become the first female President of Hungary?
In 2019, which Indian classical dance did Manju Barggavee contribute to, earning her the Sangeet Natak Akademi Award?
Relevant for Exams:
