The Reserve Bank of India today placed on its website the report of the Household Finance Committee. Background 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 chaired by Dr. Tarun Ramadorai, Professor of Financial Economics, Imperial college London, 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). Highlighting the unique aspects of Indian households’ financial decision-making, the Committee has set out several recommendations on enabling better participation by Indian households in formal financial markets, including a Regulatory Sandbox for assessing the role of new financial technologies and products. Comments and Suggestions, if any, on the report may be sent by email or by post to the CGM-in-Charge, Department of Banking Regulation, Reserve Bank of India, Central Office, Shaheed Bhagat Singh Marg, Mumbai-400 001 on or before September 15, 2017. Jose J. Kattoor
Chief General Manager Press Release: 2017-2018/540 | |