BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Review of Poverty Line
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Licensing of Small Finance Banks
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Monitoring of bad loans
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None of the above
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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: -Statutory Fraud Committee : There shall be a FraudCommittee under the chairmanship of the nominee of the Governor of Reserve Bankof India and one nominee each from SEBI and IRDA.
Detailed explanation-4: -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-5: -While the Marathe Committee (1992) redefined the viability norms and ushered in the era of liberalization, the Madhava Rao Committee (1999) focused on consolidation, control of sickness, better professional standards in urban co-operative banks and sought to align the urban banking movement with commercial banks.