GENERAL KNOWLEDGE

Detailed explanation-1: -It recommended a three tier banking structure in India through establishment of three large banks with international presence, eight to ten national banks and a large number of regional and local banks.

Detailed explanation-2: -The committees that proposed the Banking sector reforms are as mentioned below: The first Narasimhan Committee-1991. The Verma Committee – 1996. The Khan Committee – 1997.

Detailed explanation-3: -The Nariman Committee in 1969 recommended a scheme to unite the commercials banks co-operative banks and government and semi-government agencies to work together for the socio-economic growth of the country. The Lead Bank Scheme was also introduced.