Economics · Banking Regulations
Consider the following statements regarding the regulatory framework for Non-Banking Financial Company-Microfinance Institutions (NBFC-MFIs) and microfinance loans: I. An NBFC-MFI is allowed to accept public deposits provided it has a minimum NOF of Rs 100 Crore and a credit rating of A+. II. The pricing of microfinance loans must include a 'well-defined' interest rate and any other charges, which must be disclosed in a simplified Fact Sheet. III. No Regulated Entity is allowed to charge any processing fee on microfinance loans, as these are meant for the poor. IV. The recovery of microfinance loans should only be made at a designated central location, and field staff are strictly prohibited from visiting the borrower's residence for collection under any circumstances. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All statements are correct
- 2Only Statement II is correct✓
- 3Statements II and IV are correct
- 4Statements I and III are correct
Correct answer
Only Statement II is correct
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