Committee to examine nidhi companies' governance, propose prudential norms and supervisory framework to strengthen depositor protection. Constitution of a Committee to examine nidhi companies' functioning and recommend measures to restore depositor confidence and improve viability. The Committee will evaluate monitoring mechanisms, propose prudential norms for fund deployment on NBFC lines, design a supervisory framework addressing non-compliance and assess feasibility of deposit insurance and ratings, and develop a long-term growth plan. It may consult experts, must report within three months, and the Department of Company Affairs is the nodal Department.
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Committee to examine nidhi companies' governance, propose prudential norms and supervisory framework to strengthen depositor protection.
Constitution of a Committee to examine nidhi companies' functioning and recommend measures to restore depositor confidence and improve viability. The Committee will evaluate monitoring mechanisms, propose prudential norms for fund deployment on NBFC lines, design a supervisory framework addressing non-compliance and assess feasibility of deposit insurance and ratings, and develop a long-term growth plan. It may consult experts, must report within three months, and the Department of Company Affairs is the nodal Department.
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