Y. H. Malegam

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]

Yezdi Hirji Malegam
President of ICAI
Succeeded byV Rajaraman
Personal details
NationalityIndian
OccupationChartered Accountant

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. "www.moneycontrol.com/news/management/yh-malegam-defends-as-11-dilution_391879.html". News Center. Retrieved 17 February 2011.
  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 978-81-224-1466-0.
  6. Roche, Julian (2005). Corporate governance in Asia. Routledge. pp. 140. ISBN 0-415-33975-8. Y. H. Malegam.
  7. "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". Reserve Bank of India. Archived from the original on 7 January 2012. Retrieved 3 March 2019.
  8. {url=http://www.iibf.org.in/documents/YHMR2011.docx}
  9. "MFIs Neglect the Poor - Malegam".
  10. "RBI should control capital flows - Malegam".
  11. "Full list: 2012 Padma Vibhushan, Padma Bhushan and Padma Shri awardees - Documents News - IBNLive". Archived from the original on 28 January 2012. Retrieved 26 January 2012.
  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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