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    Question

    Based on which committee's recommendations did RBI introduce a comprehensive regulatory framework for NBFC-MFIs?

    A Gadgil committee Correct Answer Incorrect Answer
    B Malegam committee Correct Answer Incorrect Answer
    C Kelkar committee Correct Answer Incorrect Answer
    D Rangarajan committee Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) constituted a Sub-Committee of the Central Board, chaired by Y.H. Malegam, to study issues and concerns in the Microfinance Institution (MFI) sector. The committee submitted its report in January 2011, and based on its recommendations, RBI introduced a comprehensive regulatory framework for Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) in 2012.

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