General Knowledge · General Awareness
Under the RBI's regulatory framework, a microfinance loan is characterized by which feature for qualifying households?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Loan given jointly to all household members
- 2Loan for consumption to a household with income above Rs 5,00,000
- 3Loan backed by hypothecation of equipment
- 4Collateral-free loan to a household with an annual income up to Rs 3,00,000✓
Correct answer
Collateral-free loan to a household with an annual income up to Rs 3,00,000
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