Question

Which one of the following committees is NOT associated with financial sector reforms in India?

• A. Raghuram Rajan Committee (2013)
• B. Narasimham Committee (1991)
• C. Tarapore Committee (1997)
• D. Urjit Patel Committee (2013)

Hint:

Remember — financial sector reform committees focus on banking, credit, and financial deepening. Monetary policy committees focus on inflation targeting and interest rate policy.

Answer 1

The Correct Option is A

Step 1: Understanding the context.
Financial sector reforms in India have been guided by various expert committees aimed at improving efficiency, regulation, and liberalization of the financial system.
Step 2: Committee purposes.
- Narasimham Committee (1991): Introduced major banking sector reforms.
- Tarapore Committee (1997): Focused on capital account convertibility.
- Raghuram Rajan Committee (2013): Proposed reforms for financial sector deepening and inclusion.
- Urjit Patel Committee (2013): Was primarily associated with monetary policy framework, not financial reforms.

Step 3: Conclusion.
Hence, the correct answer is (D) Urjit Patel Committee (2013).