Question: Recently, the report of the Family Finance Committee has been published by the Reserve Bank of India (RBI). Under whose chairmanship was this committee constituted?
(a) Jose J. Kattoor
(b) Dr. Nachiket Mohr
(c) Dr. Tarun Ramadorai
(d) Dr. Viral V. Acharya
Answer: (c)
Related facts:
- On August 24th, 2017, the Reserve Bank of India (RBI) published the report of the Household Finance Committee.
- In pursuance of the discussions in the Sub Committee of the Financial Stability and Development Council (FSDC-SC) held on April 26, 2016 a committee was set up to look at various facets of household finance in India.
- The Committee is chaired by Dr. Tarun Ramadorai, Professor of Financial Economics, and Imperial College London.
- Committee had representation from all the financial sector regulators, namely, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI) and Pension Fund Regulatory and Development Authority (PFRDA).
- The participation rate of Indian households in financial assets is well below the one observed in developed countries.
- With the help of this committee better participation of Indian families can be facilitated.
Reference:
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=41471
https://www.rbi.org.in/hindi/Scripts/PressReleases.aspx?ID=33138