BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Confederation of Industries in India.
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Indian Bank’s Association
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Small industries Development Bank of India
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Reserve Bank of India
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Detailed explanation-1: -1. This is the part of The National Scheduled Castes Finance and Development Corporation (NSFDC).
Detailed explanation-2: -NABARD, through the department of ‘Micro Credit Innovations’, has continued its role as the facilitator of microfinance initiatives in the country.
Detailed explanation-3: -NABARD, through its’ Micro Credit Innovations Department has continued its role as the facilitator and mentor of microfinance initiatives in the country.
Detailed explanation-4: -Apart from extending refinance support of 100% to the financing Banks, NABARD also extends financial support for awareness creation and capacity building of all stakeholders under the Scheme. NABARD also extends grant support for formation and nurturing of JLGs to Banks and other JLG Promoting Institutions (JLGPIs).
Detailed explanation-5: -a) The NBFC-MFI should be registered with the RBI as Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI). b) The NBFC-MFI should be following all RBI norms related to Micro Finance.