What is malegam committee?

What is malegam committee?

The Board of Directors of the Reserve Bank of India, formed a Sub-Committee of the Board to study matters and concerns in the microfinance sector in so far as they are related to the entities regulated by the Bank. The Sub-Committee was under the chairmanship of Y.H. Malegam.

Which Committee recommended NBFC?

RBI Committee Recommends Conversion of Large NBFCs into Banks & Entry of Corporates. In a series of recommended proposals, an internal working group (IWG) of the Indian Central Bank (Reserve bank of India) has suggested increasing the existing cap on stake owned by corporate houses in the bank.

What is micro financing Upsc?

Micro Finance – Micro Finance in India (UPSC Notes) Microfinance is a basis of financial services for entrepreneurs and small businesses deficient in contact with banking and associated services.

What are the recommendations made by malegam committee?

The Committee has recommended that net owned funds should be in form of Tier I capital,and has set the minimum capital for NBFC-MFIs at Rs 15 Crore. These recommendations essentially restrict MFI promoters to corporates, or individuals backed by investors with significant capital.

What is Nayak committee?

The P J Nayak Committee or officially the Committee to Review Governance of Boards of Banks in India was set up by the Reserve Bank of India (RBI) to review the governance of the board of banks in India. The Committee was set up in January 2014.

Is MFI An NBFC?

NBFC MFI is a non-deposit taking NBFC (other than a company licensed u/s 25 of the Indian Companies Act, 1956) that meets the following conditions: Minimum Net Owned Funds (NOF) of Rs. 5 crore. (For those registered in the North Eastern Region of the country, Rs.

Which of the committee was constituted to review the credit delivery system in India?

The Reserve Bank of India has decided to constitute a committee to review the existing short term cooperative credit structure (STCCS).