Which regulatory body in India oversees and supervises microfinance institutions (MFIS) to ensure their compliance with regulations?

Correct option is C

The correct answer is (c) Reserve Bank of India (RBI).
· The Reserve Bank of India (RBI) is the regulatory body that oversees and supervises microfinance institutions (MFIs) in India. The RBI ensures that these institutions comply with the regulations related to interest rates, loan limits, and fair lending practices to protect the interests of low-income borrowers who rely on microfinance services.
Information Booster:
· Securities and Exchange Board of India (SEBI):
· SEBI regulates the securities markets but is not involved in microfinance oversight.
· Insurance Regulatory and Development Authority (IRDA):
· IRDA regulates the insurance sector in India.
· Competition Commission of India (CCI):
· CCI promotes competition in the market and prevents monopolistic practices but does not regulate MFIs.