In June _________, the Reserve Bank of India published a ‘Consultative Document on Regulation of Microfinance’.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 2021.
In June 2021, the Reserve Bank of India (RBI) published a ‘Consultative Document on Regulation of Microfinance’. This document aimed to review and update the regulatory framework for microfinance institutions (MFIs) to ensure better customer protection, transparency, and financial inclusion. The consultation process sought feedback from stakeholders to refine policies related to microfinance, addressing issues such as interest rates, lending practices, and the operational framework for MFIs to enhance their effectiveness and sustainability.