Committees in News

Usha Thorat Committee For Evaluating Applications Of Small Finance Banks and Payments Banks
The Reserve Bank of India on 3 February 2015 constituted a committee to evaluate applications received for the proposed small finance banks. The committee was headed by Usha Thorat, former Deputy Governor of RBI. The purpose of the small banks will be to provide a whole suite of basic banking products such as deposits and supply of credit, but in a limited area of operation. The objective for these Small Banks is to increase financial inclusion by provision of savings vehicles to under-served and unserved sections of the population, supply of credit to small farmers, micro and small industries, and other unorganised sector entities through high technology-low cost operations.


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