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Which committee has been constituted by the Reserve Bank of India RBI to look into bank frauds

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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.

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