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What is a Narasimham Committee?
India has both public and private sector banks. As India liberalised its economy in 1991, it was felt that banks were not performing efficiently. During the economic crises, it was recognised that banks have a crucial role to play in the economy and, hence, the banking sector had to be more competitive and effective. For that, Ministry of Finance under then finance minister Dr Manmohan Singh set up Narasimham Committee to analyse India’s banking sector and recommend reforms.
Major recommendations
Narasimham Committee- I
Narasimham Committee- II
It also proposed that the government should raise the Capital Adequacy Ratio norms.
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