The main aim of the committee was to review the progress of the implementation of the banking reforms since 1992 with the aim of further strengthening the financial institutions of India. Workspace. The Narasimham Committee recommendations were forward-looking and are still relevant. Thanks this site is very useful to crack competative exam.but i have some problem about economic and banking termonology.plz update all terms in alphabetic series. Constituted in 1991, the Committee submitted two reports, in 1992 and 1998, which laid significant thrust on enhancing the efficiency and viability of the banking sector. Narasimham Committee, 1975--Working Group On Rural Banks Dantwala Committee, 1978--Committee on Rural Banks CRAFICARD, 1981--Committee to Review Arrangements for Institutional Credit for Agriculture and Rural Development The Report of the first Narasimham Committee (1991) ushered in the financial sector reforms, which were expected to spur competition in the banking sector through deregulation and entry of new private sector banks, which, in turn, was to Solution(By Examveda Team) Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on the 26th September 1975 and followed by Regional Rural Banks Act, 1976 with a view to develop the rural economy and to create a supplementary channel to the 'Cooperative Credit Structure' with a … In 1975, based on the recommendation of the Narasimham committee, Regional Rural Banks (RRBs) were constituted with an objective of serving the unserved. The Narasimham-II Committee was tasked with the progress review of the implementation of the banking reforms since 1992 with the aim of further strengthening the financial institutions of India. Management should initiate discussion with the representatives of staff and would need to convince their employees about the intrinsic soundness of the idea, the competitive benefits that would accrue and the scope and potential foe employees’ own professional advancement in a larger institution. The RBI’s supervision system was strengthened. To solve these issues, the Narasimham Committee in 1974 recommended the establishment of Regional Rural Banks (RRB). The Government of India appointed Narasimham Committee in July 1975 to set up the new institution in order: The advancement in the Indian banking system is classified into 3 distinct phases: 1. The committee was appointed to review the working of the commercial banks and other financial institutions of the country and to suggest measures to remodel these institutions for raising their efficiency. This would necessitate the corporation and understanding of the employees and towards this direction. conceptualized th e … Narasimham committee in 1975 recommended the establishment of RRBs (Regional Rural Banks) for development of rural sector and providing services to unserved ones. The Narasimham Committee was established under former RBI Governor M. Narasimham in August 1991 to look into all aspects of the financial system in India. The Narsimham committee was of the view that the move towards this revised system should be market driven and based on profitability considerations and brought about through a process of mergers and acquisitions. great work, Marvellous site…do not close this site ever…i see it daily to keep myself updated…u r great man, Thank you so much for very useful insight. As Chairman, Public Accounts Committee, 1978-79 he participated in a Conference on South Asia convened by the School of Asian and African Studies, London University. As the international standards became prevalent, banks had to … The second report of the Narsimham committee on the banking sector reforms on the structural issues made following recommendations. It focused on issues like size of banks and capital adequacy ratios among other things. There were several other specialized banks which were constituted during this period to support the development of the economy. Post Bank of Hindustan, many other banks evolved such as the General Bank of India (1786-1791) and Oudh Commercia… This is just amazing sites i have ever seen. The report of this committee had comprehensive recommendations for financial sector reforms including the banking sector and capital markets. The bank ceased its operations in 1832. thank you admin…this site really worth adoration and all due credit for the hard work. Standing committees. This committee was set up under the chairmanship of Narasimham with the name “Committee on Banking Sector Reforms” which is also known as “Second Narasimham Committee”. A standing committee is a committee consisting of Members of Parliament.It is a permanent and regular committee which is constituted from time to time according to the provisions of an Act of Parliament or Rules of Procedure and Conduct of Business. The report was tabled in the Parliament on December 17, 1991. 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