SSC Economics Sample Paper NCERT Sample Paper-4

  • question_answer
    Concept of three tier banking was given by-

    A)  Narasimhan Committee

    B)  J.M. Sengupta Committee

    C)  Ramakrishna Committee

    D)  One of the above

    Correct Answer: A

    Solution :

    [a] Recognising the evolving needs of the sector, Various committees had been appointed during the period from 1991 with the task of analysing India's banking sector and recommending legislation and regulations to make it more effective, competitive and efficient. Two such expert Committees were set up under the chairmanship of M. Narasimham. They submitted their recommendations in the 1990s in reports widely known as the Narasimham Committee-I (1991) report and the Narah imham Committee- 11 (1998) Report. These recommendations not only helped unleash the potential of banking in India, they are also recognised as a factor towards minimising the impact of global financial crisis started in 2007.

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