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RBI panel for bad loan monitoring, rising cases of frauds, audits
February 23 , 2018
2325 days
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- Reserve Bank of India (RBI) has constituted an expert committee to look into the entire gamut of issues relating to classification of bad loans, effectiveness of audits and rising incidents of frauds.
- The committee will be headed by Y H Malegam, a former member of Central Board of Directors of RBI.
- A K Misra, Executive Director, RBI, will be the Member-Secretary of the committee.
- The committee was set up in wake up of Rs. 11,400 crore SWIFT (Society for Worldwide Interbank Financial Telecommunication)-related fraud in Punjab National Bank (PNB) and RBI’s drive of strengthening supervisory framework in the country to avoid frauds.
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