The Reserve Bank of India (RBI) has formed a committee to look into the financial services offered to small businesses and low-income households. The committee will be chaired by Nachiket Mor, former chairman of the ICICI Foundation for inclusive growth and current member at the RBI board.
The committee will devise pointers to develop and improve regulation and design a monitoring framework to expand the reach of financial services in the country.
The 12-member committee will have representatives from banks, including SS Mundra, chairman of Bank of Baroda, Shikha Sharma, managing director and chief executive officer of Axis Bank, Sunil Kaushal, India CEO of Standard Chartered Bank, and Vikram Pandit, former CEO of Citibank.
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