CURRENT AFFAIRS

Detailed explanation-1: -Tarun Ramadorai committee to study various facets of household finance in India and benchmark India’s position against both the peer countries and advanced countries.

Detailed explanation-2: -The Committee on Financial Inclusion (Chairman: Dr. C. Rangarajan, RBI, 2008) explicitly included ‘timely and adequate credit at an affordable cost’ for vulnerable groups in the definition of the financial inclusion.

Detailed explanation-3: -Household financial management is carried out by making or planning household budgets, sorting household needs, spending to meet household needs, and supervising household economy.

Detailed explanation-4: -Traditionally, banks have been the most significant player in the housing finance market, holding the bulk of India’s total home loan portfolio. Banks are also responsible for disbursing a majority of the housing loans to higher-income bracket customers.