H.R. Khan to head micro-credit advisory panel
Former deputy governor of the Reserve Bank of India H.R. Khan has been appointed as the first chairman of the steering committee of the Code for Responsible Lending (CRL) in micro-credit. CRL is a self-regulatory initiative for the micro-credit industry making entities like banks, NBFC-MFIs and NBFCs adhere to standards of customer protection. CRL was launched in September by MFIN and Sa-Dhan, an RBI-recognized association of MFIs, along with Finance Industry Development Council, an association of NBFCs. CRL was envisaged to be guided and supervised by a steering committee.