Current context: H R Khan, former deputy governor of RBI, has been appointed as the first chairman of the steering committee of the Code for Responsible Lending (CRL) in micro-credit.
a. Harsh Shrivastava
b. Srinivas Bonam
c. Sonia Krishnankutty
d. H R Khan
- Microfinance Institutions Network (MFIN) and Sa-Dhan launched the CRL in September 19, along with Finance Industry Development Council (an association of NBFCs).
- Code for Responsible Lending (CRL) is a self-regulatory step for the Micro-credit institutions like NBFCs, NBFC-MFIs, SFBs etc. to follow the standard of customer protection.
- The CRL was envisaged to be supervised and guided by a steering committee under an eminent independent chair.
- The code proposes to cap the total indebtedness of a borrower to Rs 1 lakh and bar more than 3 lenders offering loans to a single borrower.
- The other members of the committee include:
- Harsh Shrivastava of MFIN
- P Satish of Sa-Dhan
- Srinivas Bonam of IndusInd Bank
- Sonia Krishnankutty of L&T Finance among others
Question:
Q.1 Who has been appointed as the Chairman of the steering committee of the Code for Responsible Lending (CRL) in micro-credit?a. Harsh Shrivastava
b. Srinivas Bonam
c. Sonia Krishnankutty
d. H R Khan
