BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

Which committee has recommended the setting up of Special Tribunals to reduce the time required for settling cases and accepting the recommendations, DRTs were established?

A	Kelkar committee
B	Justice Reddy committee
C	Rangarajan Committee
D	Narasimham Committee

Explanation:

Detailed explanation-1: -Narasimham Committee Report I (1991) recommended the setting up of Special Tribunals to reduce the time required for settling cases. Accepting the recommendations, Debt Recovery Tribunals (DRTs) were established.

Detailed explanation-2: -The Narasimham-II Committee was tasked with the progress review of the implementation of the banking reforms since 1992 with the aim of further strengthening the financial institutions of India. It focussed on issues like size of banks and capital adequacy ratio among other things.

Detailed explanation-3: -The Narasimham committee has recommended that the provisions of the RBI Act, Banking Regulation Act, State Bank of Act, and other laws be reviewed and amended as soon as possible in order to bring them in line with current banking needs.

Detailed explanation-4: -The first Committee was set up in 1991 and is referred to as the Narasimham Committee-I, and the 1998 Committee is known as the Narasimham Committee – II.

There is 1 question to complete.