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

  • Meglegam Committee       
  • Rangarajan Committee
  • Goiporia Committee                         
  • Banking Reforms Committee
Monis Rasool Professor Asked on 28th April 2015 in General Knowledge.
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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
Monis Rasool Professor Answered on 2nd May 2015.
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