NBFC - MFI Flashcards
1
Q
What is NBFC MFI ?
A
It is a Micro finance institution – Non deposit taking
2
Q
What are the conditions for NBFC MFI ?
A
1) Minimum Net owned funds of Rs 5 cr
2) Min 75% of assets as qualifying assets
3
Q
How much microfinance loans can be extended by NBFC MFI ?
A
Not more than 25% of its total assets
4
Q
What is MSME’s contribution to India’s GDP ?
A
31%
5
Q
What is the penal charge on NBFC MFI in the event of a default ?
A
2%
6
Q
What are the types of risks that the CRA’s are exposed to ?
A
Operational Risks
Fraud risk
Legal risk
