New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which committee suggested reforms on the Insurance

    sector?
    A Swaminathan Committee Correct Answer Incorrect Answer
    B R N Malhotra Committee Correct Answer Incorrect Answer
    C Narasimham Committee Correct Answer Incorrect Answer
    D Chelliah Committee Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    In 1993, the Government of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector While the committee submitted its report in 1994, it took another six years before the enabling legislation was passed in the year 2000, legislation amending the Insurance Act of 1938 and legislating the Insurance Regulatory and Development Authority Act of 2000. The same year the newly appointed insurance regulator - Insurance Regulatory and Development Authority IRDA—started issuing licenses to private life insurers. Swaminathan Committee: Population policy Narasimham Committee: Banking sector reforms Chelliah Committee: Tax reforms

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