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REGULATION OF RURAL FINANCIAL SERVICES
Which apex body primarily regulates rural financial services in India?
The Reserve Bank of India (RBI) is the primary apex body regulating rural financial services, with NABARD playing a complementary supervisory role over cooperative banks and RRBs.
Which Act established the framework for regulation of Regional Rural Banks in India?
The Regional Rural Banks Act, 1976 governs RRBs.
Under which Act was NABARD established?
NABARD was established under the National Bank for Agriculture and Rural Development Act, 1981, and commenced operations on 12 July 1982.
What is the minimum net owned fund required for an NBFC-MFI to operate in rural areas?
Minimum net owned fund is Rs. 5 crore for NBFC-MFIs.
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