In 1993, the Government set up a committee under the chairmanship of.....former Governor of RBI, to propose recommendations for reforms in the insurance sector.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

In 1993, the Government set up a committee under the chairmanship of____former Governor of RBI, to propose recommendations for reforms in the insurance sector.

A	Gorwala Committee
B	RN Malhotra
C	B Sivaraman Committee
D	Rangarajan Committee

Explanation:

Detailed explanation-1: -Detailed Solution. The correct answer is Insurance sector. R.N. Malhotra Committee is Associated with the Insurance sector. A was set up in 1993 under the chairmanship of R.N. Malhotra, former Governor of the Reserve Bank of India, to make recommendations for reforms in the insurance sector.

Detailed explanation-2: -The Malhotra Committee (1994) had recommended that the mandated investment of funds of the general insurance companies should be reduced from the then existing level of 70 per cent to 35 per cent.

Detailed explanation-3: -In its report submitted in 1994, the committee recommended, among other things, that: Private players be included in the insurance sector. Foreign companies be allowed to enter the insurance sector, preferably through joint ventures with Indian partners.

Detailed explanation-4: -2 1993: Committee on Reforms in the Insurance Sector, headed by Mr. R. N. Malhotra, (Retired Governor, Reserve Bank of India) set up to recommend reforms.

Detailed explanation-5: -The Malhotra Committee submitted its report in 1994 wherein, among other things, it recommended that the private sector be permitted to enter the insurance industry.

There is 1 question to complete.