Supreme Court: Award Valid Even If Passed After Mandate Expiry When Court Extends Time  ||  Jharkhand HC: Regular Bail Plea During Interim Bail is Not Maintainable under Section 483 BNSS  ||  Cal HC: Theft Claims and Public Humiliation Alone Don’t Amount To Abetment of Suicide U/S 306 IPC  ||  Delhi High Court: Elective Surgery Does Not Bar Grant of Interim Bail on Medical Grounds  ||  Delhi HC: Consensual Romance With Minor Nearing 18 May be Considered For Bail in POCSO Case  ||  Delhi HC: Not Named In FIR Doesn’t Matter If Financial Links Show Active Role in NDPS Offence  ||  Chhattisgarh HC: Rape is an Affront to Womanhood and a Brutal Violation of The Right To Life  ||  Supreme Court: Single Insolvency Petition Maintainable Against Linked Corporate Entities  ||  Supreme Court: Disputes are Not Arbitrable When the Arbitration Agreement is Alleged to be Forged  ||  Supreme Court: Temple Trust Does Not Qualify as an ‘Industry’ under the Industrial Disputes Act    

RBI constitutes a Committee on Household Finance- (Reserve Bank of India) (04 Aug 2016)

MANU/RPRL/0191/2016

Banking

The Reserve Bank of India (RBI) has set up a committee to look at the various facets of household finance in India and to benchmark India's position vis-a-vis both the peer countries and advanced countries. The Committee will be chaired by Dr. Tarun Ramadorai, Professor of Financial Economics, University of Oxford and will have representation from financial sector regulators, namely, Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA) apart from Reserve Bank of India (RBI).

The terms of reference of the Committee are: i. To benchmark the current depth of household financial markets in India vis-a-vis those in other major world markets and to identify areas of priority for growth and change.
ii. To characterize and evaluate Indian households' demands in formal financial markets (for assets such as pensions as well as liabilities such as home loans) over the coming decade.
iii. To consider whether, how, and why the financial allocations of Indian households deviate from desirable financial allocation and behaviour (e.g., the large household allocation to gold).
iv. To evaluate the design of new systems and the redesign of existing systems of incentives and regulations to encourage and enable better participation by Indian households in formal financial markets.
v. To assess the role of new financial technologies and products (e.g., roboadvising, automatically refinancing mortgages) in the cost-effective provision of high-quality and suitable financial products to Indian households while containing risks.

The Committee is expected to submit its report by end July 2017. The demand for formal financial market investment product like pension as well as liability product like home loan from the Indian household was discussed during the meeting of the Sub Committee of Financial Stability and Development Council (FSDC-SC) held on April 26, 2016. It was decided that a committee should be set up to look at various facets of household finance in India and submit a report.

Tags : HOUSEHOLD FINANCE   COMMITTEE   CONSTITUTION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved