With reference to different Committees in India, consider the following details :
| Sl. No. | 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 ?
Show answer
Answer: D. Row 1 is wrong: the R.N. Malhotra Committee (1993) was set up by the Government of India, before IRDAI existed. Row 2 is correct: SEBI's L.C. Gupta Committee (1996) prepared the derivatives trading framework. Row 3 is wrong: the RBI's Urjit Patel Committee (2014) dealt with the monetary policy framework. Row 4 is correct: the RBI's Y.H. Malegam Committee (2010) dealt with microfinance. So 2 and 4.
Watch for: Students forget IRDAI did not exist when the Malhotra Committee reported.
Why the other options are wrong
- A. Wrong because row 4 is also correct.
- B. Wrong because the Urjit Patel Committee was on monetary policy, not housing loans.
- C. Wrong because rows 1 and 3 are wrong.
Source to check: RBI and SEBI annual reports and committee report archives (rbi.org.in, sebi.gov.in); IRDAI history page (irdai.gov.in)
Answer from the provisional UPSC key; it may change when the final key is out. Written and fact-checked by AI against the official key. Spotted a mistake? Report it.