Y. H. Malegam

Yezdi Hirji Malegam
President of ICAI
Succeeded by V Rajaraman
Personal details
Nationality Indian
Occupation Chartered Accountant

Yezdi Hirji Malegam, age 80, is an Indian chartered accountant who was the president of Institute of Chartered Accountants of India from 1979 to 1980.[1] Currently he is the chairman of National Advisory Committee on Accounting Standards.[2] Since November 27, 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 Requirements

Malegam 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 Sector

Malegam 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 reforms

Malegam 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 Honours

Malegam received Padma Shri Award (the fourth highest civilian award in the Republic of India) in 2012.[11]

See also

References

  1. ↑ "Past President". Institute of Chartered Accountants of India. Retrieved 17 February 2011.
  2. ↑ "http://www.moneycontrol.com/news/management/yh-malegam-defends-as-11-dilution_391879.html". News Center. Retrieved 17 February 2011. External link in |title= (help)
  3. ↑ "Y. H. Malegam B.Com., F.C.A. (England & Wales)". Bloomberg. Retrieved 17 February 2011.
  4. ↑ "YH Malegam| Limit on annual income can be changed". Wall Street Journal. Retrieved 17 February 2011.
  5. ↑ Machiraju, H R (2007). Merchant Banking, Principles And Practice. New Age International. pp. 170, 240, 478. ISBN 81-224-1466-4.
  6. ↑ Roche, Julian (2005). Corporate governance in Asia. Routledge. p. 140. ISBN 0-415-33975-8.
  7. ↑ {url=http://www.rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=608}
  8. ↑ {url=http://www.iibf.org.in/documents/YHMR2011.docx}
  9. ↑ "MFIs Neglect the Poor - Malegam".
  10. ↑ "RBI should control capital flows - Malegam".
  11. ↑ {url=http://ibnlive.in.com/news/full-list-2012-padma-awards/224135-53.html}

External links

  1. BusinessWeek: Executive Profile: Y. H. Malegam
  2. Q&A: Y H Malegam, Chairman, Malegam Committee
  3. RBI to decide on microfinance institutions after Y.H.Malegam Committee report
  4. Y. H. Malegam: "Limit on annual income can be changed"
  5. Interview with Y. H. Malegam on his report on Indian Microfinance Institutions
  6. Y. H. Malegam Committee Report: RBI releases Report of the Sub-Committee of its Central Board of Directors to study Issues and concerns in the MFI Sector
  7. Firstsource Board of Directors
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