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Q63 (IAS/2026) Economy › Money, Banking & Inflation Official Key

With reference to different Committees in India, consider the following details :
1. R.N. Malhotra Committee — Comprehensive reforms of Insurance sector in India — Insurance Regulatory and Development Authority of India
2. L.C. Gupta Committee — Preparing a roadmap for the introduction of derivatives trading in India — Securities and Exchange Board of India
3. Urjit R. Patel Committee — Preparing a roadmap for reforming bank lending to the Housing sector — Reserve Bank of India
4. Y.H. Malegam Committee — Preparing a roadmap for reforms in Microfinance sector in India — Reserve Bank of India
In which of the above rows are all the details correctly matched ?

Result
Your answer: —  ·  Correct: D

Explanation

Row 1 is incorrectly matched: The R.N. Malhotra Committee on Insurance Sector Reforms was constituted by the Government of India in 1993, not by the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI was established later in 1999 as a result of this committee's recommendations.

Row 2 is correctly matched: The L.C. Gupta Committee was set up by the Securities and Exchange Board of India (SEBI) in 1996 to develop a regulatory framework for the introduction of derivatives trading in India.

Row 3 is incorrectly matched: The Urjit R. Patel Committee was appointed by the Reserve Bank of India (RBI) in 2013 to examine and revise the Monetary Policy Framework, not for reforming bank lending to the housing sector.

Row 4 is correctly matched: The Y.H. Malegam Committee was constituted by the RBI in 2010 to study issues and concerns in the Microfinance sector in India.

Therefore, only rows 2 and 4 are correctly matched.

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PROVENANCE & STUDY PATTERN

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Don’t just practise – reverse-engineer the question. This panel shows where this PYQ came from (books / web), how the examiner broke it into hidden statements, and which nearby micro-concepts you were supposed to learn from it. Treat it like an autopsy of the question: what might have triggered it, which exact lines in the book matter, and what linked ideas you should carry forward to future questions.
With reference to different Committees in India, consider the following details : 1. R.N. Malhotra Committee — Comprehensive reforms of Insu…
At a glance
Origin: Books + Current Affairs Fairness: Moderate fairness Books / CA: 5/10 · 5/10
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This is a classic 'Committees and Commissions' matching question. While Malhotra and Urjit Patel are standard textbook facts, L.C. Gupta and Malegam require a broader awareness of financial market evolution. It is a medium-difficulty question where eliminating the obvious trap (Urjit Patel) is the key to arriving at the answer.

How this question is built

This question can be broken into the following sub-statements. Tap a statement sentence to jump into its detailed analysis.

Statement 1
What was the primary purpose of the R.N. Malhotra Committee and which regulatory body did it recommend establishing?
Origin: Direct from books Fairness: Straightforward Book-answerable
From standard books
Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 14: Service Sector > M Insurance Reforms > p. 426
Presence: 5/5
“During economic reforms in the 1990s, Insurance Reforms Committee (IRC) was set up in 1993 under the chairmanship of R.N. Malhotra. Following are some major recommendations of Malhotra Committee: • Establishment of regulatory authority for insurance sector. (Later, Insurance Regulatory Development Authority, IRDA was constituted in 1999.) • Bringing down the government's share in insurance companies to 50 per cent. a) Estranging GIC from its four subsidiaries. b) Decentralisation of LIC and to be converted into a company which is to be registered under Companies Act (now insurance companies are registered under Companies Act 1956)”
Why this source?
  • The R.N. Malhotra Committee, also known as the Insurance Reforms Committee (IRC), was established in 1993 to propose reforms for the insurance sector.
  • It explicitly recommended the establishment of a regulatory authority for the insurance sector.
  • This recommendation led to the constitution of the Insurance Regulatory Development Authority (IRDA) in 1999.
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