Who issued guidelines for the microfinance institutions in India?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Reserve Bank of India.
The Reserve Bank of India issued guidelines for microfinance institutions (MFIs) in India. The Reserve Bank of India's regulations and guidelines are designed to regulate and supervise MFIs, ensuring their stability and effectiveness in providing financial services to underserved and low-income populations.
These guidelines cover aspects such as licensing, operational standards, and credit practices, and aim to promote financial inclusion while maintaining the safety and soundness of the microfinance sector.