Yezdi Hirji Malegam | |
|---|---|
| President of ICAI | |
| Succeeded by | V Rajaraman |
| Personal details | |
| 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]
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]
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]
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]
Malegam received Padma Shri Award (the fourth highest civilian award in the Republic of India) in 2012. [11]
Y. H. Malegam.