SarkariPYQ

SSC CGL 2023 PYQ — Question 50

SSC CGL - 14 July 2023 - Shift 4 • General Awareness • Q50

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Who is the regulator of Micro Finance Institutions in India?

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Correct answer: B

Explanation

The correct answer is Option 2 i.e.RBI

  • In India, the regulation and supervision of Micro Finance Institutions (MFIs) are primarily under the purview of the Reserve Bank of India (RBI).
  • The RBI regulates and oversees the functioning of financial institutions in the country, including MFIs, to ensure stability and adherence to regulatory guidelines.
  • Additionally, the National Bank for Agriculture and Rural Development (NABARD) also plays a role in supporting and regulating MFIs, particularly those focused on rural development and microfinance activities.