Question

    As per RBI guidelines, to qualify as a microfinance

    loan, the annual household income in rural areas should not exceed:
    A ₹2.5 lakh Correct Answer Incorrect Answer
    B ₹3.5 lakh Correct Answer Incorrect Answer
    C ₹3 lakh Correct Answer Incorrect Answer
    D ₹2 lakh Correct Answer Incorrect Answer
    E ₹1.5 lakh Correct Answer Incorrect Answer

    Solution

    RBI revised the income limit in March 2022. Now, microfinance loans are available to households with annual income up to ₹3 lakh in rural areas.

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