Top 10 Questions on Important Committee and Commissions associated with Banking and Finance 1) The Expenditure Management Commission (EMC) was announced in the Union Budget 2014-15 by Finance Minister Arun Jaitley. The EMC will review the allocated and operational efficiencies of government expenditure to achieve maximum output and will give its interim report within this financial year (2014-15). Who has been appointed as the Chairman of the EMC? – Bimal Jalan (Former RBI Governor) ……………………………………………………………………… 2) India’s first PSU-based all-women Bharatiya Mahila Bank (BMB) was launched by the then Prime Minister Manmohan Singh on 19 November 2013. Who headed the committee that prepared the blue-print for Bharatiya Mahila Bank? – MBN Rao, former CMD of Canara Bank (MBN Rao committee was constituted in March 2013. MD Mallya, Jayshree Vyas, Arundhati Bhattacharya, Usha Ananthasubramaniam and K. Ramakrishnan as its members) ……………………………………………………………………… 3) Which committee had made the important recommendation to provide a Universal Electronic Bank Account (UEBA) each Indian citizen above the age of eighteen years by 1 January 2016? – Nachiket Mor Committee ……………………………………………………………………… 4) The revival of the Kisan Vikas Patra (KVP) was announced in the Union Budget 2014-15 on 10 July 2014. The Union Govt. is now planning to re-introduce the KVP from October 2014. The KVP was discontinued from November 2011 on the recommendation of which committee’s recommendations? – The Shyamala Gopinath Committee ……………………………………………………………………… 5) On 2 April 2014 IDFC Limited and Bandhan Financial Services Private Limited were granted in-principle approval for bank licences out of a total 25 applicants for these licences. Who headed the committee to scrutinize these 25 applicants? – Bimal Jalan (The Reserve Bank of India (RBI) on 4 October 2013 had constituted this four-member committee under former RBI Governor Bimal Jalan to scrutinize applications for new bank licences. Other 3 members of this committee included Usha Thorat (former RBI Deputy Governor), C B Bhave (former SEBI Chairman) and Nachiket Mor (financial sector expert)) ……………………………………………………………………… 6) The Tax Administration Reform Commission (TARC), headed by Parthasarathy Shome, submitted its first report during July 2014. In this report it endorsed the recommendation given by the iconic 1992 committee on Tax Reforms to abolish the post of Revenue Secretary in the Ministry of Finance. Who headed that famous committee on Tax Reforms in India? – Raja J Chelliah (Chelliah served as chairman of Tax Reforms Committee of Union govt. between 1991 and 1993 and he was often called ‘The Father of Tax Reforms’) ……………………………………………………………………… 7) Who headed the committee on Credit Information Reports (CIRs), which submitted its report to the Reserve Bank of India (RBI) during March 2014? – Aditya Puri, Chairman of HDFC Bank (This committee recommended that customers should be given a free copy of their credit profile as it would help in promoting financial discipline among loan seekers. The committee also recommended use of common data formats and a common data quality index that could assist credit institutions in determining the gaps in data) ……………………………………………………………………… 8) With the introduction of Core Banking Solution (CBS), it was expected that customers of banks would be treated uniformly at any sales or service delivery point. It was, however, observed that some banks were discriminating against their own customers on the basis of one branch being designated as the ‘home’ or ‘base’ branch. Who headed the committee on Customer Services in Banks (2013), which threw ample light on this issue? – M. Damodaran ……………………………………………………………………… 9) Who headed the committee on Tendulkar Committee methodology for estimating poverty, the report of which was submitted to Planning Commission on 1 July 2014? – C. Rangarajan (C. Rangarajan, the former chief of Prime Minister’s Economic Advisory Council (PMEAC), submitted the report to planning minister Rao Inderjit Singh. The Planning Commission in May 2012 had constituted the expert group under the then PMEAC chairman C Rangarajan to review the Tendulkar Committee methodology for estimating poverty, following an uproar over the number of poor in the country) ……………………………………………………………………… 10) The Reserve Bank of India (RBI) during January 2014 constituted an 8-member expert committee to review the governance of bank boards in India, which includes examining the ownership and salary structure of banks. Who headed this committee? – PJ Naik, former Chairman and CEO of Axis Bank ……………………………………………………………………… Source: twitter/sansarlochan
Posted on: Sun, 21 Sep 2014 12:46:39 +0000
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