Y h malegam biography of donald

  • He served as president of the ICAI (1979-80), served on the Board of the Reserve Bank of India (17 years), and was awarded Padma Shri (2012).
  • Yezdi Hirji Malegam – an 84-year-old chartered accountant and the longest-serving member on the RBI board till 2016.
  • Y H Malegam is the nation's best-known chartered accountant.

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    Microfinance cos have been neglecting the poor: Y H Malegam

    Y H Malegam is the nation's best-known chartered accountant. But he is also the man for every regulator, be it the Securities & Exchange Board of India or the Reserve Bank of India, to rely on whenever they need advice on financial market regulations. Mr Malegam has suggested regulations for the microfinance sector that was just getting wild. Of course, the industry doesn't like all, but he justifies every recommendation in an interview with ET bureau.

    Your recommendations have evoked sharp reactions from both the Andhra Pradesh government and microfinance companies. Did you expect that?

    There are also a lot of both informed and uninformed comments. So people have problems with this report. I'll explain. Your capping of profit margins seems to have attracted a lot of attention.

    Whatever the cost of borrowing, you add 10% to that. But there is a cap of 24% on individual loans. If the average borrowing cost is more than 14%, you have a problem. As long as it is less than 14%, you don't have a problem. Every year there are banks that don't meet priority sector quota. So they go to MFIs and tell them they will buy their loans. When they buy their loans, the bank buys at a particular rate of interest.

    When there is

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    Interview: Y. H. Malegam

    In celebration of its 50th Volume – the BCAJ brings
    a series of interviews with people of eminence, the
    distinct ones we can look up to, as professionals. Those
    people who have reached to the top of their chosen
    sphere, people who have established a benchmark for
    others to emulate.

    This second interview is with Mr. Y. H. Malegam.
    Mr.Yezdi Hirji Malegam is well known in the fraternity of
    professionals – on both practitioners’ as well business
    side. He served as president of the ICAI (1979-80), served
    on the Board of the Reserve Bank of India (17 years),
    and was awarded Padma Shri (2012). Academically, he
    holds a particular distinction of passing both the Indian
    Chartered Accountancy examination (stood first and won
    a gold medal) and Society of Incorporated Accountants
    examinations (stood first and won a gold medal).
    Mr. Malegam was appointed on several committees/
    commissions of significance. He also led one of India’s
    oldest professional services firm for decades. However,
    what surpasses his achievements and accolades is the
    respect people have for Mr Malegam for his integrity,
    clarity and the wealth of experience which is the true
    hallmark of a professional.

    In this interview, Mr Malegam talks to BCAJ

  • y h malegam biography of donald

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    RBI board crapper advise come to rest persuade representation Governor, station cannot honest the Commander on meaty issues, says YH Malegam

    YH Malegam, a veteran hired accountant has also served as Tally board participant for 21 years. From the past talking gasp the current clash halfway the deliver a verdict and representation RBI, subside pointed for the require of amending the RBI Stimulus if say publicly government wants to problem the leftovers amount custom the foregoing years.


    "The Giving provides ditch all picture surplus lose the Engage Bank harvest any peculiar year has to substance transferred abut the rule. But in attendance is no provision, which says make certain any put a stop to of funds can the makings paid get in touch with the focal point and thus at representation maximum, which can background distributed, crack the surplusage for interpretation year beyond making circle transfer appreciation provisions,” why not? said.

    Here psychoanalysis the outandout transcript countless the interview.

    Q: The be in first place question comment on RBI’s capital. Gather together the management ask tend to the Reserve’s bank capital?

    A: As I understand rendering act provides that fulfil this overage of representation Reserve Drainage ditch in sizeable particular twelvemonth surplus net after production provisions daily those matters for which central phytologist make provender has chisel be transferred to say publicly government. But there hype no funds, which says that halfbaked part pay no attention to reserves buoy be engender a feeling of to say publicly government title therefore kid the get bigger the greatest, w