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Y. H. Malegam
Yezdi Hirji Malegam is an Indian chartered accountant who was the president of Institute of Chartered Accountants of India from 1979 to 1980.[1] He was the chairman of National Advisory Committee on Accounting Standards.[2] Since 27 November 2000, he has been a board member of Reserve Bank of India and holds a position as a trustee of The Willingdon Sports Club. He is also engaged in various other fields of business and finance.[3] He has been a director of the Indian Central Bank's board for 17 years.[4] Review of Disclosure RequirementsMalegam lead a 1995 review of disclosure requirements for public issues.[5] Under his recommendation, guidelines were produced by SEBI, which included the recommendation such as companies declaring loans to subsidy companies.[6] Study of Issues and Concerns in the MFI SectorMalegam was appointed Chairman of the famous Malegam Committee (Sub-Committee of the RBI Central Board of Directors) set up to study issues and concerns in the MFI Sector. The committee submitted its report to the RBI in January 2011.[7][8] Malegam contended that the micro-finance institutions have neglected the poor.[9] Financial sector and accounting reformsMalegam was member of the Financial Sector Legislative Reforms Commission set up in 2011 to amend the financial laws in India. However, Malegam submitted a dissenting note to the Commission's Report, arguing that Reserve Bank of India should control all capital flows except FDI.[10] Awards and honoursMalegam received Padma Shri Award (the fourth highest civilian award in the Republic of India) in 2012.[11] See alsoReferences
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