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.
The average due date technique of payment may be used:
Which of the following is NOT a business transaction?
a. Bought furniture of ₹20,000 for business
b. Paid for salaries of employees ₹5...
ARP is a manufacturing concern. It came to you with the following details to know its profit:
Variable Cost: ₹ 50,000
Fixed Cost ₹ 20,...
What is the 'Front Office' primarily responsible for in a Bank’s Treasury?
What banking transaction involves the exchange of one currency for another at the prevailing exchange rate?
A statutory auditor of a company needs to report fraud/suspected fraud within _____ of his/her knowledge of the fraud.
X & Y share profits in the ratio of 1: 4. Z has been admitted with ½ shares in profits. What will be the new profit sharing ratio of the partners?Â
 Internal auditor is removed and appointed by which among the following?
A company has EPS ₹10 and number of shares 1,00,000. Net profit is:
What does the term "Surrender Value" signify in the context of insurance policies?
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