KOLKATA, Nov 29: Former deputy governor of the
Reserve Bank of India (RBI), H R Khan has been appointed as
the first chairman of the steering committee of the Code for
Responsible Lending (CRL) in micro-credit.
The CRL is a self-regulatory step for the micro-credit
industry making diverse entities like banks, NBFC-MFIs and
NBFCs adhere to standards of customer protection, a statement
by Micro-finance Institutions Network (MFIN) said.
CRL was launched in September by MFIN and Sa-Dhan, an
RBI-recognised association of MFIs, along with Finance
Industry Development Council, an association of NBFCs.
“I am excited to be part of this initiative of MFIN
and Sa-Dhan. I strongly believe in the importance of promoting
responsible finance to protect the interests of underserved
and unserved borrowers,” Khan said.
The CRL was envisaged to be guided and supervised by a
steering committee representing banks, SFBs, NBFC-MFIs, NBFCs
and industry associations under an eminent independent chair.
Members of the steering committee include Harsh
Shrivastava of MFIN, P Satish of Sa-Dhan, Srinivas Bonam of
IndusInd Bank and Sonia Krishnankutty of L&T Finance among
others, the statement added. (PTI)
Follow our WhatsApp channel
