With reference to different Committees in India, consider the following details : Committee | Objective | Organization under which it was formed 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 ?
A
2 only
B
2 and 3
C
1, 3 and 4
D
2 and 4
Correct answer
Explanation
Row 1 is wrong: the R.N. Malhotra Committee (1993) on insurance reform was set up by the Government of India, since IRDA itself came only in 1999 on its recommendation. Row 2 is right: the L.C. Gupta Committee was a SEBI committee on introducing derivatives trading. Row 3 is wrong: the Urjit Patel Committee (2014) was an RBI expert committee on revising the monetary policy framework (inflation targeting), not housing loans. Row 4 is right: the Y.H. Malegam Committee (2010) was an RBI sub-committee on the microfinance sector.
Banking & Financial InstitutionsFinancial sector committeesR.N. Malhotra CommitteeL.C. Gupta CommitteeUrjit Patel CommitteeMalegam CommitteeFinancial reforms