Question

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

Q: Answer-Based on which committee's recommendations did RBI introduce a comprehensive regulatory framework fo...

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.