Former RBI deputy governor appointed as chairman of MFI panel

Kolkata: 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 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 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.