Question

Which committee has been constituted by the Reserve Bank of Indian (RBI) to look into bank frauds? [Feb 2018]

• A. Y H Malegam committee
• B. A.K. Misra committee
• C. Nandkumar Saravade committee
• D. S Raman committee

Answer 1

Answer: (A)

Y H Malegam committee

The Reserve Bank of India (RBI) has constituted a new 5-member expert Committee under the chairmanship of Y H Malegam, a former member of the Central Board of Directors of RBI, to look into the reasons for wide divergence by banks in asset classification and provisioning by banks and measures to prevent frauds. The committee will also look into the issue of huge non-performing asset divergences between what banks classify and what is detected in RBI inspection and recommend steps to address the issue. The other members of the committee are Bharat Doshi, S. Raman and Nandkumar Saravade. A.K. Misra, Executive Director of RBI, will be the Member-Secretary of the committee.