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This committee recommended that the public sector bank should be free and autonomous
- a)Narsimham Committee
- b)Nachiket Mor Committee
- c)Mohanty Committee
- d)Bimal Jalan Committee
- e)None of the above
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
This committee recommended that the public sector bank should be free ...
Narsimham Committee Recommendation
The Narsimham Committee recommended that the public sector bank should be free and autonomous. The committee was formed in 1991, with the aim of assessing the financial system of India and recommending reforms.
Reasoning
The committee believed that by making public sector banks autonomous, they could operate more efficiently and effectively. This autonomy would enable them to make decisions based on commercial considerations rather than political interference.
Benefits
1. Improved Efficiency: Autonomy would allow public sector banks to streamline their operations and make quicker decisions, leading to improved efficiency.
2. Better Governance: With autonomy, banks can have better governance structures in place, resulting in more transparent and accountable practices.
3. Increased Competitiveness: By being free from external influences, public sector banks can compete more effectively in the market and adapt to changing economic conditions.
Conclusion
In conclusion, the Narsimham Committee's recommendation for public sector banks to be free and autonomous was aimed at improving their overall performance and ensuring their sustainability in a competitive financial landscape.
The Narsimham Committee recommended that the public sector bank should be free and autonomous. The committee was formed in 1991, with the aim of assessing the financial system of India and recommending reforms.
Reasoning
The committee believed that by making public sector banks autonomous, they could operate more efficiently and effectively. This autonomy would enable them to make decisions based on commercial considerations rather than political interference.
Benefits
1. Improved Efficiency: Autonomy would allow public sector banks to streamline their operations and make quicker decisions, leading to improved efficiency.
2. Better Governance: With autonomy, banks can have better governance structures in place, resulting in more transparent and accountable practices.
3. Increased Competitiveness: By being free from external influences, public sector banks can compete more effectively in the market and adapt to changing economic conditions.
Conclusion
In conclusion, the Narsimham Committee's recommendation for public sector banks to be free and autonomous was aimed at improving their overall performance and ensuring their sustainability in a competitive financial landscape.
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Community Answer
This committee recommended that the public sector bank should be free ...
The correct answer is (A) Narsimham Committee. The Narsimham Committee, officially known as the Committee on the Financial System, was appointed by the Government of India in 1991 to assess and recommend reforms for the Indian financial sector.
One of the key recommendations made by the Narsimham Committee was related to public sector banks. The committee recommended that public sector banks should be given greater autonomy and be operated as independent entities. This would allow them to function with more flexibility, make business decisions based on commercial considerations, and operate in a competitive environment.
The committee emphasized the need for public sector banks to be free from excessive government interference and to be run on professional lines. This recommendation aimed to improve the efficiency and performance of public sector banks, enabling them to compete with private sector banks and contribute to the overall development of the Indian banking sector.
Therefore, the Narsimham Committee recommended that public sector banks should be free and autonomous, marking an important step towards reforming the Indian banking system.
One of the key recommendations made by the Narsimham Committee was related to public sector banks. The committee recommended that public sector banks should be given greater autonomy and be operated as independent entities. This would allow them to function with more flexibility, make business decisions based on commercial considerations, and operate in a competitive environment.
The committee emphasized the need for public sector banks to be free from excessive government interference and to be run on professional lines. This recommendation aimed to improve the efficiency and performance of public sector banks, enabling them to compete with private sector banks and contribute to the overall development of the Indian banking sector.
Therefore, the Narsimham Committee recommended that public sector banks should be free and autonomous, marking an important step towards reforming the Indian banking system.
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