RBI announces External Advisory Committee for evaluating Applications of Small Finance Banks and Payments Banks
February, 05th 2015
The Reserve Bank of India today announced the names of the members of the External Advisory Committee (EAC) for small finance banks as well as payments banks. The composition of EACs is:
A. External Advisory Committee for Small Finance Banks
1. Chairperson: Smt. Usha Thorat, former Deputy Governor, Reserve Bank of India.
2. Shri M.S. Sahoo, Secretary, The Institute of Company Secretaries of India (ICSI)
3. Shri M.S. Sriram, Professor at IIM Bangalore & Distinguished Fellow of Institute for Development and Research in Banking Technology (IDRBT)
4. Shri M. Balachandran, Chairman, National Payments Corporation of India (NPCI)
B. External Advisory Committee for Payments Banks
1. Chairman: Shri Nachiket M Mor, Director, Central Board of Reserve Bank of India
2. Ms. Roopa Kudva, former MD & CEO, CRISIL Limited
3. Ms. Shubhalakshmi Panse, former Chairman & Managing Director, Allahabad Bank
4. Shri Deepak Phatak, Chair Professor, IIT Bombay
It may be recalled that the guidelines for licensing of “Small Finance Banks” and “Payments Banks”, issued on November 27, 2014, indicated that the applications for small finance banks and payment banks will be initially screened by the Reserve Bank to ensure prima facie eligibility of the applicants. An External Advisory Committee (EAC) comprising eminent professionals like bankers, chartered accountants, finance professionals, will evaluate the applications thereafter and that the names of the members of the EAC will also be placed on the Reserve Bank’s website.