The primary objective of the Microfinance Institutions (Development and Regulation) Act, 2011 is to regulate the activities of microfinance institutions in India.

Cooperative Societies are not considered microfinance institutions under the Microfinance Institutions (Development and Regulation) Act, 2011.

The maximum loan amount that a microfinance institution can provide to a single borrower is Rs. 1,00,000.

The maximum interest rate that a microfinance institution can charge on a loan is 26% per annum.

The minimum net worth requirement for a microfinance institution to be registered under the Act is Rs. 5 crore.

The Reserve Bank of India (RBI) is responsible for regulating the activities of microfinance institutions, providing financial assistance to microfinance institutions, and protecting the interests of microfinance borrowers.

The penalty for a microfinance institution that violates the provisions of the Act is both fine and imprisonment.

The Yashwant Sinha Committee was set up to review the implementation of the Microfinance Institutions (Development and Regulation) Act, 2011.

The Yashwant Sinha Committee recommended increasing the maximum loan amount that a microfinance institution can provide to a single borrower, reducing the maximum interest rate that a microfinance institution can charge on a loan, and making it mandatory for microfinance institutions to provide financial literacy training to their borrowers.

The Microfinance Institutions (Development and Regulation) Act, 2011 was amended in 2015.

The main objective of the 2015 amendment to the Microfinance Institutions (Development and Regulation) Act, 2011 was to bring Non-Banking Financial Companies (NBFCs) under the ambit of the Act.

The online portal launched by the RBI to facilitate the registration of microfinance institutions under the Act is called the Microfinance Institutions Registration Portal (MIRP).

The self-regulatory organization (SRO) for microfinance institutions in India is called the Microfinance Institutions Network (MFIN).

The primary objective of MFIN is to promote responsible lending practices among microfinance institutions, protect the interests of microfinance borrowers, and facilitate the development of the microfinance sector in India.

The scheme launched by the Government of India to provide financial assistance to microfinance institutions is called the Microfinance Institutions Development Fund (MIDF).