The recent conversion of Financial Institutions into Commercial Banks or Non-Banking Finance Companies (NBFCs) under the regulatory aspect of RBI was suggested by
A)Narasimham Committee
B)Ministry of Company Affairs
C)Ministry of Finance
D)None of the above

Question

Quizplus · Accepted Answer

The Narasimham Committee was instrumental in suggesting reforms that led to the conversion of Financial Institutions into Commercial Banks or Non-Banking Finance Companies (NBFCs), under the regulatory purview of the Reserve Bank of India (RBI). This was part of broader financial sector reforms aimed at enhancing the efficiency and stability of the financial system in India.

The Recent Conversion of Financial Institutions into Commercial Banks or Non-Banking