Vice President Accounts Interview Questions and Answers

RBI guidelines for NBFC and MFIs

• NBFCs need to maintain a minimum capital adequacy ratio of 15%

• MFIs are required to maintain a minimum net owned fund of Rs. 15 lakhs

• RBI has set up a separate department for supervision of NBFCs

• NBFCs are required to submit periodic reports to RBI

• RBI has issued guidelines for fair practices code for NBFCs and MFIs

Microfinance is a financial service that provides small loans and other financial services to low-income individuals or groups.

• Microfinance helps to alleviate poverty by providing access to financial services to those who are traditionally excluded from the formal banking sector.

• It typically involves small loans, savings accounts, and insurance products.

• Microfinance institutions (MFIs) are the primary providers of microfinance services, and they operate in both developed and ...read more