GK
INDIAN POLITICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Abid Hussain Committee
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Bhagwati Committee
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Cheliah Committee
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Narasimham Committee
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Detailed explanation-1: -The correct answer is Narasimhan Committee. The Narasimham Committee was established under former RBI Governor M. Narasimham in August 1991 to look into all aspects of the financial system in India. The committee is popularly known as the Committee on Banking Sector Reforms.
Detailed explanation-2: -There was another Committee, this time under P Chidambaram as the finance minister, headed by Narasimham, which was formed in 1998. 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.
Detailed explanation-3: -The Financial Sector Legislative Reforms Commission (FSLRC) was asked to comprehensively reviewe and redraw the legislations governing India’s financial system.