Apr 10, 2014

Q.1288

A guest question by Ashutosh Bapat | contribute questions

A micro-financing institution lends small amounts of money to small businesses at cheaper interest rates. Often, they raise money in the form of bonds, which are tradable loans. Though, these institutes deal with money, they are not banks, which enjoy more freedom when it comes to accepting deposits. At the onset of the 2014-15 financial year, an Indian micro-financing institution, was granted a banking license by RBI. Which institution?

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This day last year: Q.923

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