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Which committee was formed in 1984 to review the Indian monetary system?
- a)Narayanan Vaghul working group
- b)Narasimham Committee
- c)Sukhamoy Chakravarty Committee
- d)RBI Monetary Policy Committee
Correct answer is option 'C'. Can you explain this answer?
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Which committee was formed in 1984 to review the Indian monetary syste...
Background:
The Narasimham Committee was formed in 1984 by the Reserve Bank of India (RBI) to review the Indian monetary system and recommend changes to improve its efficiency and effectiveness.
Key Recommendations:
- **Financial Sector Reforms:** The committee suggested liberalizing the financial sector, including allowing private sector banks and foreign banks to operate in India.
- **Capital Adequacy Norms:** It recommended increasing the capital adequacy norms for banks to make them more robust and resilient to economic shocks.
- **Asset Reconstruction Companies (ARCs):** The committee proposed the creation of ARCs to address the issue of Non-Performing Assets (NPAs) in the banking sector.
- **Credit Delivery:** It emphasized the need for efficient credit delivery mechanisms to reach underserved sectors of the economy.
- **Regulatory Framework:** The committee recommended strengthening the regulatory framework for financial institutions to ensure stability and transparency in the system.
Impact:
The recommendations of the Narasimham Committee played a significant role in shaping the Indian financial sector. Many of its suggestions were implemented over the years, leading to the modernization and strengthening of the banking and financial system in the country.
The Narasimham Committee was formed in 1984 by the Reserve Bank of India (RBI) to review the Indian monetary system and recommend changes to improve its efficiency and effectiveness.
Key Recommendations:
- **Financial Sector Reforms:** The committee suggested liberalizing the financial sector, including allowing private sector banks and foreign banks to operate in India.
- **Capital Adequacy Norms:** It recommended increasing the capital adequacy norms for banks to make them more robust and resilient to economic shocks.
- **Asset Reconstruction Companies (ARCs):** The committee proposed the creation of ARCs to address the issue of Non-Performing Assets (NPAs) in the banking sector.
- **Credit Delivery:** It emphasized the need for efficient credit delivery mechanisms to reach underserved sectors of the economy.
- **Regulatory Framework:** The committee recommended strengthening the regulatory framework for financial institutions to ensure stability and transparency in the system.
Impact:
The recommendations of the Narasimham Committee played a significant role in shaping the Indian financial sector. Many of its suggestions were implemented over the years, leading to the modernization and strengthening of the banking and financial system in the country.
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Which committee was formed in 1984 to review the Indian monetary syste...
The Sukhamoy Chakravarty Committee was appointed in 1984 to review the Indian monetary system and suggest reforms.
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Which committee was formed in 1984 to review the Indian monetary system?a)Narayanan Vaghul working groupb)Narasimham Committeec)Sukhamoy Chakravarty Committeed)RBI Monetary Policy CommitteeCorrect answer is option 'C'. Can you explain this answer?
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Which committee was formed in 1984 to review the Indian monetary system?a)Narayanan Vaghul working groupb)Narasimham Committeec)Sukhamoy Chakravarty Committeed)RBI Monetary Policy CommitteeCorrect answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Which committee was formed in 1984 to review the Indian monetary system?a)Narayanan Vaghul working groupb)Narasimham Committeec)Sukhamoy Chakravarty Committeed)RBI Monetary Policy CommitteeCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which committee was formed in 1984 to review the Indian monetary system?a)Narayanan Vaghul working groupb)Narasimham Committeec)Sukhamoy Chakravarty Committeed)RBI Monetary Policy CommitteeCorrect answer is option 'C'. Can you explain this answer?.
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