The Reserve Bank of India constituted a high-level task force on Public Credit Registry (PCR) for India. Who was appointed as the head of this task force?

Introduction / Context:
This question relates to Indian banking reforms and institutional initiatives by the Reserve Bank of India (RBI). A Public Credit Registry (PCR) is planned as a comprehensive database of credit information to improve transparency and reduce risks in the financial system. RBI set up a high level task force to design a road map for this registry. Knowing who chaired this group is a typical current affairs question.

Given Data / Assumptions:

• The body mentioned is a high level task force on Public Credit Registry for India.
• It was constituted by the Reserve Bank of India.
• Options list names including Sekar Kamam, Vishakha Mulye, Sriram Kalyanaraman, Y. M. Deosthalee and Urjit Patel.
• We assume candidates are familiar with key figures in the Indian banking and financial sector.

Concept / Approach:
The approach is to recall announcements by RBI regarding the setting up of a task force on PCR. The chairperson appointed was Y. M. Deosthalee, a senior banker with experience in financial services. Other names in the options are included as distractors but did not head this particular task force.

Step-by-Step Solution:
Step 1: Remember that the Public Credit Registry is intended to provide a single, comprehensive source of credit information. Step 2: RBI formed a high level task force to examine international best practices and propose a design for India. Step 3: The RBI announcement named Y. M. Deosthalee as the chairperson of this task force. Step 4: Other individuals listed in the options are associated with different roles in banking but not with chairing this specific task force. Step 5: Therefore, the correct answer is Y. M. Deosthalee.

Verification / Alternative check:
Reading RBI press releases and exam oriented banking awareness material shows that the task force on PCR was headed by Y. M. Deosthalee. This information was widely quoted in banking magazines and current affairs digests for bank exams. None of the other names are mentioned in connection with this particular committee, which confirms the answer.

Why Other Options Are Wrong:
Option A (Sekar Kamam) is wrong; there is no widely known RBI task force on PCR headed by this person.
Option B (Vishakha Mulye) is incorrect; although a senior banker, she did not chair this task force.
Option C (Sriram Kalyanaraman) is also wrong; he has been associated with housing finance but not with the PCR task force.
Option E (Urjit Patel) is incorrect in this context; he was the RBI Governor at the time but the question specifically asks for the head of the task force, which is a separate appointment.

Common Pitfalls:
Candidates may assume that the RBI Governor automatically leads every major committee and incorrectly choose Urjit Patel. However, the RBI often appoints independent chairpersons or senior experts to head specific task forces. It is essential to remember the exact names linked with high profile committees like the Public Credit Registry task force when preparing for banking examinations.

Final Answer:
The high level RBI task force on Public Credit Registry for India was headed by Y. M. Deosthalee.