RBI has recently constituted an expert committee to look into a range of issues relating to classification of bad loans, rising incidents of frauds and effectiveness of audits. The committee under the chairmanship of

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Usha Ananthasubramanian
B	Arvind Subramanian
C	YH Malegam
D	Vimal Jalan

Explanation:

Detailed explanation-1: -The correct answer is All I, II and III. Y. H. Malegam Committee is an expert committee constituted by the Reserve Bank of India in February 2018 to look into: Rising incidents of fraud. The effectiveness of audits.

Detailed explanation-2: -The Reserve Bank of India (RBI) has constituted a new 5-member expert Committee under the chairmanship of Y H Malegam, a former member of the Central Board of Directors of RBI, to look into the reasons for wide divergence by banks in asset classification and provisioning by banks and measures to prevent frauds.

Detailed explanation-3: -In 2016, the Government of India amended the RBI Act to establish the Monetary Policy Committee (MPC) to set. This limited the role of the RBI in setting interest rates, as the MPC membership is evenly divided between members of the RBI (including the RBI governor) and independent members appointed by the government.

Detailed explanation-4: -The Committee had 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.

There is 1 question to complete.