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    In 2011, Micro-finance Institution were installed on the recommendation of

    • Meglegam Committee       
    • Rangarajan Committee
    • Goiporia Committee                         
    • Banking Reforms Committee
    Asked by Monis Rasool on 28th April 2015 in General Knowledge.
    1 Answers

    Malegam Committee

    In 2011, Micro-Finance Institution were installed on the recommendation of Malegam Committee. Yezdi Hirji Malegam is an Indian Chartered accountant, Mr. Malegam also served as a President of Institute of Chartered Accountant of India from 1979 to 1980. Presently Mr. Y.H Malegam is the chairman of National Advisory Committee on Accounting Standards.

    Micro finance is a goal, provided a great opportunity to low income people or in other way poor people who become self-sufficient after getting micro-finance, means of saving money, borrowing money and insurance.

    The Reserve Bank of India Board of Directors, at its meeting held on 15 October 2010, constituted a Sub-Committee of the Board to study issues and concerns in he micro-finance sector in hitherto as they related to the entities regulated by the Bank.
    The composition of the Sub-committee was as under:-

    1. Shri Y.H Malegam – Chairman
    2. Shri Kumar Mangalam Birla
    3. Dr. K. C. Chakrabarty
    4. Smt. Shashi Rajagopalan
    5. Prof. U.R. Rao
    6. Shri V. K Sharma (Excutive Director)- Member Secreatary
    Answered by Monis Rasool on 2nd May 2015..