Y. H. Malegam Explained

Yezdi Hirji Malegam
Office:	President of ICAI
Successor:	V Rajaraman
Nationality:	Indian
Occupation:	Chartered Accountant

Yezdi Hirji Malegam is an Indian chartered accountant who was the president of Institute of Chartered Accountants of India from 1979 to 1980.^[1] He was the chairman of National Advisory Committee on Accounting Standards.^[2] Since 27 November 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] Malegam contended that the micro-finance institutions have neglected the poor.^[8]

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.^[9]

Awards and honours

Malegam received Padma Shri Award (the fourth highest civilian award in the Republic of India) in 2012.^[10]

See also

• Malegam - a brief profile
• Executive Profile & Biography of Malegam

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
8. https://web.archive.org/web/20120107015059/http://www.rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=608
9. http://www.iibf.org.in/documents/YHMR2011.docx

Notes and References

1. Web site: Past President. Institute of Chartered Accountants of India. 17 February 2011.
2. Web site: www.moneycontrol.com/news/management/yh-malegam-defends-as-11-dilution_391879.html. News Center. 17 February 2011.
3. Web site: Y. H. Malegam B.Com., F.C.A. (England & Wales). Bloomberg. 17 February 2011.
4. Web site: YH Malegam Limit on annual income can be changed. Wall Street Journal. 17 February 2011.
5. Book: Machiraju, H R. Merchant Banking, Principles And Practice. 2007. New Age International. 978-81-224-1466-0. 170, 240, 478.
6. Book: Roche, Julian. Corporate governance in Asia. 2005. Routledge. 0-415-33975-8. 140. registration. Y. H. Malegam..
7. Web site: Report of the Sub-Committee of the Central Board of Directors of Reserve Bank of India to Study Issues and Concerns in the MFI Sector . 3 March 2019 . Reserve Bank of India . dead . https://web.archive.org/web/20120107015059/http://www.rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=608 . 7 January 2012 .
8. Web site: MFIs Neglect the Poor - Malegam.
9. News: RBI should control capital flows - Malegam.
10. Web site: Full list: 2012 Padma Vibhushan, Padma Bhushan and Padma Shri awardees - Documents News - IBNLive . 26 January 2012 . https://web.archive.org/web/20120128011022/http://ibnlive.in.com/news/full-list-2012-padma-awards/224135-53.html . 28 January 2012 . dead . dmy-all .