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SSC CGL 2023 PYQ — Question 107

SSC CGL Tier II - 6 March 2023 - Shift 1 • General Awareness • Q107

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The Reserve Bank of India introduced a comprehensive regulatory framework for NBFC-MFI on __________.

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Correct answer: B

Explanation

The correct answer is Option 1 i.e. 2 December 2011.  

  • The Reserve Bank of India introduced a comprehensive regulatory framework for Non-Banking Financial Companies - Micro Finance Institutions (NBFC-MFIs) on 2 December 2011.
  • This framework aimed to regulate and oversee microfinance activities provided by NBFCs in order to protect the interests of small borrowers.
  • It introduced guidelines related to interest rates, margins, and other aspects of microfinance lending.