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    Question

    RBI’s Regulatory Framework for Microfinance Loans

    Directions, 2022, will take effect on ?
    A April 1, 2022 Correct Answer Incorrect Answer
    B April 2, 2022 Correct Answer Incorrect Answer
    C April 3, 2022 Correct Answer Incorrect Answer
    D April 4, 2022 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    · RBI has instructed regulated entities lending to the microfinance sector to ensure that loans are collateral-free and not secured by a lien on the borrower’s deposit account, that repayment obligations are capped, that interest rates are not usurious, and that there is no prepayment penalty.

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