BANKING AFFAIRS

Detailed explanation-1: -The Jagish Kapoor Committee set up by the Government in 1999 submitted their recommendations on 27th July, 2000 and subsequently the Government constituted a Committee consisting of representatives of State Governments, Financial Institutions and national level federation to go through the recommendations.

Detailed explanation-2: -Primary Urban Co-operative Banks norms were reviewed on the recommendations of K. Madhava Rao committee.

Detailed explanation-3: -That is why ex-Finance Minister of India Dr. Manmohan Singh established the Narasimham committee to examine the functioning of banks. On 14th August 1991, Government of India appointed a nine-member team called the Narasimham Committee I.