state gov APPSC (ఆంధ్రప్రదేశ్) Group 2 (Pre + Mains) Mock Test 2023 Current Affairs Business and Economy
Consider the following statements regarding microfinance in India:
1. A microfinance loan is defined as a collateral-free loan given to a household having an annual income up to ₹2,00,000.
2. The Reserve Bank of India (RBI) is the regulatory body for Microfinance Institutions (MFIs) operating in the country.
3. In 2014, RBI recognized the Microfinance Institutions Network (MFIN) as a Self-Regulatory Organization (SRO).
How many of the above statements are correct?
1
None
2
Only one
3
Only two
4
All three