Question
Download Solution PDFWho is the regulator of Micro Finance Institutions in India?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is RBI.Key Points
- Reserve Bank of India (RBI) is the central bank of India, which regulates the functioning of banks and other financial institutions in the country.
- RBI is also responsible for regulating and supervising the microfinance institutions (MFIs) in India, which provide small loans to the low-income households and micro-entrepreneurs.
- RBI has issued guidelines for the registration and operation of MFIs, and it also monitors their compliance with the regulatory norms.
- RBI has set up a dedicated department for the supervision of NBFC-MFIs (Non-Banking Financial Company-Microfinance Institutions), which are the main type of MFIs in India.
Additional Information
- SEBI (Securities and Exchange Board of India) is the regulator of the securities market in India, which oversees the functioning of stock exchanges, mutual funds, and other market intermediaries.
- NABARD (National Bank for Agriculture and Rural Development) is a development bank, which provides financial and technical assistance to the agriculture and rural sectors in India.
- SBI (State Bank of India) is a public sector bank, which is one of the largest banks in India.
- However, it is not the regulator of MFIs in India.
- Hence, the statement "The regulator of Micro Finance Institutions in India is RBI" is correct.
Last updated on Jun 25, 2025
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