Economics · Economy
Consider the following statements regarding the microfinance sector in India: Statement I: NBFC-MFIs currently account for the largest share of the microfinance lending portfolio in India, outperforming commercial banks. Statement II: The rapid adoption of individual digital transfers has significantly strengthened and reinforced the traditional collective repayment pressure culture inherent in Joint Liability Groups (JLGs). Statement III: The Reserve Bank of India (RBI) mandates a rigid, uniform nominal interest rate ceiling for all microfinance lenders under its regulatory framework. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither Statement II nor Statement III is correc t.✓
- 2Only one of the Statements II and III is corre ct, and that explains Statement I.
- 3Both Statement II and Statement III are correct, but only one of them explains Statement I.
- 4Both Statement II and Statement III are correct, and both of them explain Statement I.
Correct answer
Neither Statement II nor Statement III is correc t.
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