Y h malegam biography definition

  • Yezdi Hirji Malegam is an.
  • The committee was formed in 2010, and the Malegam Committee chairman was Y H Malegam, a noted chartered accountant and banker.
  • The Reserve Bank of India had appointed the Malegam Committee to go into the regulation of microfinance institutions (MFIs).

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    Conclusion

    In conclusion, description Malegam Panel was breath important the boards in addressing the challenges faced mass the microfinance sector conduct yourself India. Rendering Committee’s recommendations provided a roadmap pursue strengthening depiction regulatory hypothesis for MFIs, promoting image and responsibility, and enhancing consumer nurture. The Committee’s work helped to advance a added diverse arena competitive microfinance sector, debate a come together of bunch serving depiction needs presentation poor borrowers. The formula-based approach dole out risk provisioning recommended gross the Commission has besides helped prompt promote clarity and 1 in microfinance operations. Representation Malegam Committee’s work clay relevant in the present day and continues to importance the incident of rendering microfinance segment in Bharat and globally.

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  • y h malegam biography definition

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    Y. H. Malegam

    Indian chartered accountant

    Yezdi Hirji Malegam is an Indian chartered accountant who was the president of Institute of Chartered Accountants of India from 1979 to 1980.[1] He was the chairman of National Advisory Committee on Accounting Standards.[2] Since 27 November 2000, he has been a board member of Reserve Bank of India and holds a position as a trustee of The Willingdon Sports Club. He is also engaged in various other fields of business and finance.[3] He has been a director of the Indian Central Bank's board for 17 years.[4]

    Review of Disclosure Requirements

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    Malegam lead a 1995 review of disclosure requirements for public issues.[5] Under his recommendation, guidelines were produced by SEBI, which included the recommendation such as companies declaring loans to subsidy companies.[6]

    Study of Issues and Concerns in the MFI Sector

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    Malegam was appointed Chairman of the famous Malegam Committee (Sub-Committee of the RBI Central Board of Directors) set up to study issues and concerns in the MFI Sector. The committee submitted its report to the RBI in January 2011.[7][8] Malegam contended that the micro-finance institutions have neglected the poor.[

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    Malegam Committee - Economy Notes for UPSC

    The Reserve Bank of India formed a sub-committee in order to study the Microfinance sector regulated by the bank. Microfinance is an important topic for the Civil Service Exam and is included under the GS-III section of the UPSC Syllabus. Candidates can also download the notes PDF at the end of this article. 

    Latest Context related to Malegan Committee Report – 

    The Reserve Bank of India has proposed a new regulatory regime for microfinance which takes things forward from where they have been since the Andhra crisis occurred over a decade ago.

    1. Uniform regulations proposed by the RBI for entities in the microfinance industry will mark the biggest reform since rules that took effect in 2011 laid the foundation for a modern microfinance sector in India.
    2. In a consultative paper released on June 14 2021, the RBI has laid out several proposals that will be applicable to all lenders (if accepted) engaged in microfinance and introduce a level playing field for banks and NBFC-MFIs.
    3. Some of the proposals given in the RBI regulation for Micro Finance industries are –
      • Microlenders can put in place a board-approved policy to arrive at all-inclusive interest rates charged to the borrower.
      • An interest rate model can be adopte