Which regulatory body oversees microfinance institutions in India?

Correct option is A

The Reserve Bank of India (RBI) is the regulatory body that oversees microfinance institutions in India.
The RBI sets regulatory frameworks and guidelines for microfinance operations to ensure financial stability and protect the interests of depositors and borrowers.
- The Ministry of Finance deals with the overall financial policies of the government but does not directly regulate microfinance institutions.
- The Insurance Regulatory and Development Authority of India (IRDAI) regulates the insurance sector in India.
- The Securities and Exchange Board of India (SEBI) is responsible for regulating the securities and commodity market in India.