Which committee suggested that NBFCs working in the microfinance sector be classified as NBFC-MFIs (Non-Banking Finance Company-Micro Finance Institutes)?

The Sub-Committee proposes that an NBFC-MFI be defined as “a company (other than a company licenced under Section 25 of the Companies Act, 1956) that primarily provides financial services to low-income borrowers with small-dollar, short-term, unsecured loans primarily for income-generating activities, with repayment schedules that are more frequent than those normally stipulated by commercial banks, and which further conforms to the regulations specified in that behalf.