BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Passing of tough laws against the micro finance companies by a particular state in India has upset the micro finance sector. Which state are we talking about?
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Karnataka
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Andhra Pradesh
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Tamil Nadu
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Rajasthan
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Explanation:
Detailed explanation-1: -2.1 Genesis of the Crisis Genesis of the Andhra Pradesh Microfinance crisis can be traced back in the year March, 2006 when Krishna district government closed down 57 branches of two largest MFIs (SHARE and Spandana) as well as those of few smaller MFIs.
Detailed explanation-2: -The Reserve Bank of India (RBI) shall regulate the micro finance sector; it may set an upper limit on the lending rate and margins of Micro Finance Institutions (MFIs).
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