RBI has increased the household income limits for borrowers of Non-Banking…
2020
RBI has increased the household income limits for borrowers of Non-Banking Financial Companies (NBFC) - Microfinance Institutions (MFI) from 1 lakh to _______ for the rural areas.
- A.
Rs.1.25 lakh
- B.
Rs.1.50 lakh
- C.
Rs.1.70 lakh
- D.
Rs. 2.5 lakh
Show answer & explanation
Correct answer: A
RBI increased the household income limit for rural borrowers of NBFC-MFIs from Rs. 1 lakh to Rs. 1.25 lakh. Therefore Rs. 1.25 lakh is correct.