With reference to different Committees in India, consider the following details:
| Committee | Objective | Organisation |
|
Comprehensive reforms of insurance sector | IRDAI |
|
Roadmap for derivatives trading | SEBI |
|
Framework for inflation targeting | RBI |
|
Reforms for microfinance sector | RBI |
How many of the above rows are correctly matched?
- 2 only
- 2 and 3
- 1, 3 and 4
- 2 and 4
Explanation
Row 1 is incorrect
- The R.N. Malhotra Committee (1993) was set up to recommend comprehensive reforms for the insurance sector. It recommended reforms in the insurance sector and opening it to private players. It was constituted by the Government of India, not IRDAI. In fact, the Insurance Regulatory and Development Authority of India (IRDAI) was established in 1999 following this committee’s recommendations.
Row 2 is correct
- The L.C. Gupta Committee was constituted by SEBI (Securities and Exchange Board of India) in 1996 to develop a regulatory framework for derivatives trading in the Indian capital market.
Row 3 is incorrect
- The Urjit R. Patel Committee was appointed by the RBI (Reserve Bank of India) in 2013 to revise and strengthen the monetary policy framework, which led to the formal adoption of flexible inflation targeting in India. It was not related to the housing sector.
4 is correct
- The Y.H. Malegam Committee was constituted by the RBI in 2010 to study the issues and concerns in the Microfinance Institutions (MFI) sector and suggest regulatory reforms.
