Supreme Court: Spouse Cannot Withdraw Consent for Mutual Divorce After Settlement Agreement  ||  Supreme Court Suspends PC Act Sentence of Former Minister Anosh Ekka, Flags Overlapping CBI Cases  ||  Supreme Court: Magistrate’s Probe Order Can’t be Quashed on Accused’s Defence  ||  Delhi High Court: No Adverse Inference if Handwriting Sample Refused Without Section 73 Disclosure  ||  J&K&L HC: Bank Officials Not Entitled to Section 197 CrPC Protection Despite Public Servant Status  ||  Kar HC Orders CBI Probe into 53-Acre Land Acquisition, Citing Alleged Monumental Fraud & Conspiracy  ||  Supreme Court Grants Probation to Convicts; Rules Fine-Only Cases Also Eligible  ||  SC Disposes Plea on Allied Health Course Moratorium After NCAHP Issues 2026–27 Guideline  ||  Supreme Court Grants Promotion Relief to Employee Denied Relaxation, Calling it Discrimination  ||  Patna HC: Tender Lapses if Not Extended on Time & Delay Cannot be Cured by Repeated Representations    

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