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Consider the following statements with reference to the RBI's master directions on the regulatory framework for microfinance loans: Microfinance loans are collateral-free loans given to low-income households having an annual income of up to ₹3 lakhs. The interest charged by the microfinance institutions on the borrowers is set by the RBI. Under this framework, there shall also be a pre-payment penalty on microfinance loans. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 onlyd)1 and 3 onlyCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements with reference to the RBI's master directions on the regulatory framework for microfinance loans: Microfinance loans are collateral-free loans given to low-income households having an annual income of up to ₹3 lakhs. The interest charged by the microfinance institutions on the borrowers is set by the RBI. Under this framework, there shall also be a pre-payment penalty on microfinance loans. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 onlyd)1 and 3 onlyCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements with reference to the RBI's master directions on the regulatory framework for microfinance loans: Microfinance loans are collateral-free loans given to low-income households having an annual income of up to ₹3 lakhs. The interest charged by the microfinance institutions on the borrowers is set by the RBI. Under this framework, there shall also be a pre-payment penalty on microfinance loans. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 onlyd)1 and 3 onlyCorrect answer is option 'A'. Can you explain this answer?.

Solutions for Consider the following statements with reference to the RBI's master directions on the regulatory framework for microfinance loans: Microfinance loans are collateral-free loans given to low-income households having an annual income of up to ₹3 lakhs. The interest charged by the microfinance institutions on the borrowers is set by the RBI. Under this framework, there shall also be a pre-payment penalty on microfinance loans. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 onlyd)1 and 3 onlyCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

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