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Former Deputy Governor HR Khan to Chair Microfinance Panel

Former Deputy Governor HR Khan to Chair Microfinance Panel

HR Khan Former Deputy Governor of the Reserve Bank of India (RBI) has been appointed as the first Chairman of the Steering Committee panel on Code for Responsible Lending (CRL) in Micro Credit. Other members of the panel include P>Satish of Sa-Dhan,Sonia Krishnamurty of L&T Finance, Harsh Shrivastav of MFIN and Srinivas Bonam of Indusind Bank among others.

About Code For Responsible Lending (CRL)

  • This is a self-regulatory step for micro-credit industry.
  • The steering committee will regulate Banks, Non-Banking Financial Companies(NBFC), Micro Finance Institutions and ensure they adhere to standards of customer protection.
  • CRL was launched in September 2019 by Microfinance institution Network and Sa-Dhan, an RBI recognized the association of Micro-Finance Institutions along with the Finance Industry Development Council an associate of NBFCs.

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