“Which committee recommended payments banks?” “Who headed the committee on bank board governance?” Committee questions are easy marks if you have one clean list. Here it is, grouped by theme.
Banking sector reforms
Committee
Year
Purpose / key outcome
Hilton Young Commission
1926
Recommended setting up the RBI
Gorwala Committee (All India Rural Credit Survey)
1951–54
Recommended creation of State Bank of India
M. Narasimham Committee I
1991
Financial sector reforms: cut CRR/SLR, set up DRTs and ARCs, allowed private banks
M. Narasimham Committee II
1998
Banking sector reforms: stronger capital adequacy, NPA norms, mergers of strong banks
Raghuram Rajan Committee
2008
Financial sector reforms (“A Hundred Small Steps”)
P.J. Nayak Committee
2014
Governance of bank boards; led to the Banks Board Bureau (2016)
Verma Committee
1999
Restructuring of weak public sector banks
S.H. Khan Working Group
1997–98
Harmonising banks and DFIs; universal banking
Monetary policy and markets
Committee
Year
Purpose / key outcome
Sukhamoy Chakravarty Committee
1985
Review of the working of the monetary system
Urjit Patel Committee
2014
Monetary policy framework: CPI inflation targeting (4% ±2%) and the MPC
Bimal Jalan Committee
2019
Economic Capital Framework of RBI (surplus transfer to government)
S.S. Tarapore Committee
1997 and 2006
Capital account convertibility
Sodhani Committee
1995
Development of the foreign exchange market
Usha Thorat Task Force
2019
Offshore rupee markets
NPAs and stressed assets
Committee
Year
Purpose / key outcome
Andhyarujina Committee
1999–2000
Legal reforms; basis for the SARFAESI Act, 2002
T.K. Viswanathan Committee
2015
Bankruptcy Law Reforms; basis for the IBC, 2016
Sunil Mehta Committee
2018
Project Sashakt for resolving stressed assets
K.V. Kamath Committee
2020
Financial parameters for COVID-19 loan restructuring
Sudarshan Sen Committee
2021
Review of Asset Reconstruction Companies (approx)
Financial inclusion and new banks
Committee
Year
Purpose / key outcome
C. Rangarajan Committee
2008
Financial inclusion
Nachiket Mor Committee
2014
Comprehensive financial services for small businesses and low-income households; payments banks and small finance banks
Deepak Mohanty Committee
2015
Medium-term path on financial inclusion
Y.H. Malegam Committee
2011
Regulation of microfinance institutions (NBFC-MFIs)
Nandan Nilekani Committee
2019
Deepening digital payments
U.K. Sinha Committee
2019
MSME sector
Rural and agricultural credit
Committee
Year
Purpose / key outcome
M. Narasimham Working Group
1975
Recommended Regional Rural Banks
B. Sivaraman Committee (CRAFICARD)
1979–81
Recommended setting up NABARD
R.V. Gupta Committee
1998
Agricultural credit; led to the Kisan Credit Card
A. Vaidyanathan Committee
2004
Revival of rural co-operative credit
V.S. Vyas Committee
2004
Rural credit and microfinance
Working capital and lending
Committee
Year
Purpose / key outcome
P.L. Tandon Committee
1974
Working capital finance; Maximum Permissible Bank Finance (MPBF)