Question : Which committee recommended the formation of a new category of NBFC i.e., Non-Banking Financial Company-Micro Finance Institution?
Option 1: Shah Committee
Option 2: Malegam Committee
Option 3: Kamath Committee
Option 4: Hussain Committee
Latest: SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL complete guide
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: Malegam Committee
Solution : The correct answer is the Malegam Committee.
Malegam Committee introduced a new category of Non-Banking financial company - Micro Finance Institution. The Reserve Bank of India set up a sub-committee for the creation of a separate category of NBFCs. The committee recommended conditions to be satisfied for NBFCs to be classified as NBFC-MFI. Microfinance term was first used in the 1970s during the development of the Gramin Bank of Bangladesh by the microfinance Pioneer Muhammad Yunus.
Candidates can download this ebook to know all about SSC CGL.
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Question : Which of the following committees was constituted to study the issues and concerns in the Micro Finance Institution in 2010?
Question : MUDRA is a financial institution set up by the Government of India for the development and refinancing of micro-unit enterprises. The full form of MUDRA is:
Question : Which of the following committees recommended the inclusion of fundamental duties in the Constitution of India?
Question : Which one is not included in Non-Banking Financial Institutions (NBFIs)?
Question : Which one of the following Committees is described as the 'twin sister' of the Estimates Committee?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile