NBFC - MFI

Question 1

What is NBFC MFI ?

Answer 1

It is a Micro finance institution – Non deposit taking

Question 2

What are the conditions for NBFC MFI ?

Answer 2

1) Minimum Net owned funds of Rs 5 cr

2) Min 75% of assets as qualifying assets

Question 3

How much microfinance loans can be extended by NBFC MFI ?

Answer 3

Not more than 25% of its total assets

Question 4

What is MSME’s contribution to India’s GDP ?

Answer 4

31%

Question 5

What is the penal charge on NBFC MFI in the event of a default ?

Answer 5

2%

Question 6

What are the types of risks that the CRA’s are exposed to ?

Answer 6

Operational Risks

Fraud risk

Legal risk