1) About MFIN:
o The Microfinance Institutions Network (MFIN) is an industry association and self-regulatory organization recognized by the Reserve Bank of India (RBI).
o Its primary goal is to promote the development and regulation of the microfinance sector in India, ensuring financial inclusion for low-income populations.
2) Responsibilities:
o Setting operational benchmarks for member institutions.
o Collaborating with policymakers to strengthen microfinance regulations.
3) Incorrect Options:
o Self-help Group Association: Not an established industry association.
o Microfinance and Investments Regulatory Authority: Does not exist.
o NABARD: While involved in rural credit and financial inclusion, it is not specifically an SRO for microfinance.
Study Notes
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