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Q4 (IAS/2001) Economy › Money, Banking & Inflation › Banking regulation reforms Answer Verified

Which of the following committees examined and suggested Financial Sector Reforms ?

Result
Your answer: —  Â·  Correct: D
Explanation

The Narasimham Committee (Committee on Financial System), chaired by M. Narasimham, was constituted in the aftermath of the 1991 crisis specifically to review the progress and functioning of India’s financial sector and to recommend comprehensive reforms to it. The committee’s remit and recommendations explicitly targeted financial sector reform—examples include advising that SLR be based on prudential requirements rather than a tool for financing the government, and broader measures to strengthen banking prudential norms and regulatory roles—thereby establishing it as the key committee on financial sector reforms in India [2]. Other listed committees (Abid Hussain, Bhagwati, Chelliah) dealt with different policy areas.

Sources

  1. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 3: Money and Banking - Part II > 3.1 History of Indian Banking and Reforms > p. 127
  2. [2] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 3: Money and Banking - Part II > 3.1 History of Indian Banking and Reforms > p. 128
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