Question : Based on the recommendations of which Committee was the creation of a separate category for NBFCs operating in the microfinance sector (NBFC-MFI) done?
Option 1: Narasimham Committee
Option 2: Malegam Committee
Option 3: Deepak Parekh Committee
Option 4: P. K. Mohanty Committee
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Correct Answer: Malegam Committee
Solution : The correct answer is the Malegam Committee .
Yezdi Hirji Malegam was the chairman of the Malegam committee. He was a chartered accountant and banker. The committee was tasked with reviewing the existing framework for the classification and reporting of MSMEs and suggesting measures for enhancing credit flow to the sector.
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