Explanation:

• Former deputy governor of the Reserve Bank of India (RBI), H R Khan has been appointed as the first chairman of the steering committee of the Code for Responsible Lending (CRL) in micro-credit.
• The CRL is a self-regulatory step for the micro-credit industry making diverse entities like banks, NBFC-MFIs and NBFCs adhere to standards of customer protection.
• CRL was launched in September by MFIN and Sa-Dhan, an RBI-recognised association of MFIs, along with Finance Industry Development Council, an association of NBFCs.
• Members of the steering committee include Harsh Shrivastava of MFIN, P Satish of Sa-Dhan, Srinivas Bonam of IndusInd Bank and Sonia Krishnankutty of L&T Finance among others.