The YH Malegam Committee, which Submitted its report a few yaers back (in 2010), was set-up to report on further improvement of the functioning of

BANKING GENERAL KNOWLEDGE

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

A	Micro Finance Institutions
B	Stock Exchanges in India
C	Cooperative Banks
D	Regional Rural Banks

Explanation:

Detailed explanation-1: -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. And classification of bad loans.

Detailed explanation-2: -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.

Detailed explanation-3: -In the wake of the Andhra Pradesh micro finance crisis in 2010, a Sub-Committee of the Central Board of the Reserve Bank (Chairman: Shri Y. H. Malegam) was constituted to study issues and concerns in the MFI sector.

Detailed explanation-4: -Regulatory approach towards microfinance has been largely based on the recommendations of the Malegam Committee.

There is 1 question to complete.