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Quote Committees in your answers!📝
Bookmark this thread sharing 8 important committees for your #UPSC Mains answers🧵👇🏼
Quote Committees in your answers!📝
Bookmark this thread sharing 8 important committees for your #UPSC Mains answers🧵👇🏼
1. Ratan P Watal Committee (2016)
- Purpose: Promote digital payment systems in India
- Recommendations: Create Payments Regulatory Board, reduce cash transactions to 10% of GDP, provide incentives for digital payments
- Purpose: Promote digital payment systems in India
- Recommendations: Create Payments Regulatory Board, reduce cash transactions to 10% of GDP, provide incentives for digital payments
2. Committee for Market Infrastructure Institution (MII) (2018)
- Purpose: Review the regulatory framework of MIIs
- Recommendations: Enhance governance standards, ownership norms, and risk management practices of MIIs
- Purpose: Review the regulatory framework of MIIs
- Recommendations: Enhance governance standards, ownership norms, and risk management practices of MIIs
3. P. J. Nayak Committee (2014)
- Purpose: Review governance of bank boards
- Recommendations: Establish a Bank Investment Company, ensure autonomy of bank boards, and separate chairman and CEO roles
- Purpose: Review governance of bank boards
- Recommendations: Establish a Bank Investment Company, ensure autonomy of bank boards, and separate chairman and CEO roles
4. Deepak Mohanty Committee (2015)
- Purpose: Suggest medium-term financial inclusion strategy
- Recommendations: Universal access to financial services, national biometric ID system, credit guarantee fund for small loans
- Purpose: Suggest medium-term financial inclusion strategy
- Recommendations: Universal access to financial services, national biometric ID system, credit guarantee fund for small loans
5. Narasimham Committee (1991 & 1998)
- Purpose: Propose banking sector reforms
- Recommendations: Deregulate interest rates, reduce statutory liquidity ratio and cash reserve ratio, consolidate banks, and establish asset reconstruction companies
- Purpose: Propose banking sector reforms
- Recommendations: Deregulate interest rates, reduce statutory liquidity ratio and cash reserve ratio, consolidate banks, and establish asset reconstruction companies
6. Uday Kotak Committee (2017)
- Purpose: Improve corporate governance standards
- Recommendations: Increase independent directors, separate chairperson and CEO roles, disclose related party transactions, and protect minority shareholders
- Purpose: Improve corporate governance standards
- Recommendations: Increase independent directors, separate chairperson and CEO roles, disclose related party transactions, and protect minority shareholders
7. Kelkar Committee (2015)
- Purpose: Assess PPP projects & suggest reforms
- Recommendations: Create an independent PPP regulator, establish a dispute resolution mechanism, introduce a viability gap funding scheme, and review tax policies for PPPs
- Purpose: Assess PPP projects & suggest reforms
- Recommendations: Create an independent PPP regulator, establish a dispute resolution mechanism, introduce a viability gap funding scheme, and review tax policies for PPPs
8. Bhagwati Committee (1977)
- Purpose: Examine unemployment & poverty causes
- Recommendations: Expand rural employment schemes, promote labour-intensive industries, improve education and health services, and implement land reforms
- Purpose: Examine unemployment & poverty causes
- Recommendations: Expand rural employment schemes, promote labour-intensive industries, improve education and health services, and implement land reforms
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