GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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December, 1997
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April, 1998
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September, 2005
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May, 2006
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Detailed explanation-1: -The first Narasimhan Committee (Committee on the Financial System – CFS) was appointed by Manmohan Singh as India’s Finance Minister on 14 August 1991, and the second one (Committee on Banking Sector Reforms) was appointed by P.
Detailed explanation-2: -The chairman of Narasimham Committee 1 and Narasimham Committee 2 was Maidavolu Narasimham. He was the 13th Governor of the Reserve Bank of India (RBI) and served from 2 May 1977 to 30 November 1977.
Detailed explanation-3: -The committee recommended that the higher proportions of the Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR) be reduced. At the time, both of these ratios were extremely high. The SLR was 38.5 percent at the time, and the CRR was 15%.