“Mentor’s comment” https://www.financialexpress.com/opinion/unfettering-microfinance-recent-rbi-consultative-document-frees-mfis-from-shackles-imposed-by-2011-regulations/2277925/ In the intro, mention the difference between a normal loan and microcredit. In the body, discuss the importance of serving the small credit needs of those who lack steady income sources or assets to keep as a mortgage. In the next part, mention the regulatory issues with 2011 guidelines for the microfinance … Continue reading Q.3) Examine the importance of microfinance in India. What were the regulatory challenges faced by the microfinance institutions and how a Consultative Document by the RBI help dealing with these challenges? (15 marks)