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A bank is a monetary establishment licensed to accept, deposits and make loans. Banks may also supply economic assistance such as wealth management, currency exchange, and safe deposit chests. There are various kinds of banks including retail banks, commercial or corporate banks, and investment banks. In the major countries, banks are synchronized by the national government or central bank.
Banks also deliver credit options for people and corporations. The money you deposit at the bank—short-term cash—is used to lend to others for long-term debt such as car loans, credit cards, mortgages, and other debt vehicles. This technique enables create liquidity in the market, which makes money and keeps the supply going.
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Important committees in Banking Sector in India
Many activities happen in the life of a bank sector day by day. To endure all these banking sector reformations there are different committees designated in India. These committees take care of all the banking sector reforms that take place in India. They are liable for these reforms occurring in the sector. Below is the name of the committees in India which take care of these reforms in the bank sector. The following list shows the important committees in the Banking sector in India and its areas of focus.
| Committee | Areas of Focus |
| Continuous Economy committee | Black Market Income and The Countless Money |
| YH Malegam committee | Notice Bad Loans |
| Revamps Expert Panel | Market Infrastructure Institutions |
| Jaitley-led Panel | Review the unification proposals of state-owned banks.
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| M Vinod Kumar Panel | Examine the GST laws |
| Arbind Modi-led Panel | Clarify Income Tax Laws |
| AK Bhuchar Committee | Arrangement Between Term Lending Institutions and Economic Banks |
| B Eradi Committee | Bankruptcy And Wind-Up Laws |
| Wanchoo Committee | Direct Taxes |
| YV Reddy Committee | Reformations In Small Savings |
| B Sivaraman Committee | Institutional Credit For Agricultural & Rural Growth |
| A Ghosh Committee | Malpractices In Banks |
| Abid Hussain Committee | Growth Of Capital Markets |
| Adhyarjuna Committee | Transformations In NI Act And Stamp Act |
| G Sundaram Committee | Export Credit |
| Gadgil Committee (1969) | Lead Banking System |
| James Raj Committee | Operation Of Public Sector Banks |
| Jankiramanan Committee | Safety Transactions Of the Banks & Economic Institutions |
| JV Shetty Committee | Consortium Advances |
| K Madhav Das Committee | Urban Cooperative Banks |
| Kalyanasundaram Committee | Initiation Of Factoring Services in India |
| Kamath Committee | Education Loan Scheme |
| Karve Committee | Small Scale Industry |
| Godwala Committee | Rural Finance |
| B Venkatappaiah Committee | All India Rural Credit Review |
| BD Shah Committee | Stock Lending Scheme |
| BD Thakar Committee | Job Norms In Bank Loans (Approach) |
| Bhagwati Committee | Unemployment |
| Bhagwati Committee | Public Welfare |
| Bhave Committee | Share Transfer Reforms |
| Bhide Committee | Arrangement Between Commercial Banks And SFC’s |
| Bhootlingam Committee | Wage, Income & Prices |
| C Rao Committee | Agricultural Policy |
| CE Kamath Committee | Multi-Agency Perspective in Agricultural Finance |
| Chatalier Committee | Finance To Small Scale Industry |
| Chesi Committee | Direct Taxes |
| Cook Committee | Capital Adequacy Of Banks |
| D R Mehta Committee | Examine Progress And Recommend Refinement Measures Of IRDP |
| Damle Committee | MICR |
| WS Saraf Committee | Technology Problems In Banking Industry |
| Y H Malegam Committee | Reveal the Norms For Public Issues |
| Dandekar Committee | Regional variations |
| Dantwala Committee | Estimation Of Employment |
| Dave Committee | Mutual Funds (Functioning) |
| Dharia Committee | Public Distribution System |
| A Ghosh Committee | Final Accounts |
| DR Gadgil Committee | Agricultural Finance |
| Goiporia Committee | Customer Service In Banks |
| GS Dahotre Committee | Credit Necessaries Of Leasing Industry |
| GS Patel Committee | Bear the Forward System on Stock Exchanges |
| Hathi Committee | Soiled Banknotes |
| Hazari Committee (1967) | Industrial Policy |
| SS Kohli Committee | Rationalization Of Staff Count in Banks |
| SS Tarapore Committee | Capital Account Convertibility |
| Dutta Committee | Industrial Licensing |
| A C Shah Committee | NBFC |
| A Ghosh Committee | Procedures Of Achievement Of New 20 Point Programme |
| G Lakshmi Narayan Committee | Expansion Of Credit Limits Based on Consortium |
| IT Vaz Committee | Functioning of Capital Finance In Banks |
| J Reddy Committee | Reforms In Insurance Sector |
| KB Chore Committee | To Examine The Symbol Of Cash Credit Q |
| Khanna Committee | Non-Performing Assets |
| Khusrau Committee | Agricultural Credit |
| KS Krishnaswamy Committee | The Part Of Banks In Priority Sector And 20 Point Financial Programme |
| L K Jha Committee | Indirect Taxes |
| LC Gupta Committee | Financial Derivatives |
| Marathe Committee | Licensing Of New Banks |
| ML Dantwala Committee | Regional Rural Banks |
| Mrs. KS Shere Committee | Electronic Fund Transfer |
| P R Nayak Committee | Institutional Credit to SSI Sector |
| P Selvam Committee | Non-Performing Income of Banks |
| Pendarkar Committee | Examine The System of Review Of Commercial, RRB And Urban Cooperative Banks |
| PC Luther Committee | Productivity, Functional Efficiency & Profitability of Banks |
| PD Ojha Committee | Service Area Approach |
| Nadkarni Committee | Modified Methods For Transactions In PSU Bonds And Units |
| Nariman Committee | Branch Expansion Programme |
| Narsimham Committee | Financial System |
| Omkar Goswami Committee | Industrial Illness And Corporate Reconstruction. |
| Pillai Committee | Pay Scales Of Bank Officers |
| RK Talwar Committee | Customer Service |
| RK Talwar Committee | Performing Having An Agro Landings By Commercial Banks |
| R Jilani Banks | Inspection System Of Banks |
| Rajamannar Committee | Changes In Banking Rules, Bouncing Of Cheques Etc. |
| Tandon Committee | Follow Up Of Bank Credit |
| Tandon Committee | Industrial Sickness |
| Thakkar Committee | Credit Schemes To Self Employed |
| Mahadevan Committee | Single Window System |
| Mahalanobis Committee | Income Distribution |
| Rakesh Mohan Committee | Petro Chemical Sector |
| Shankar Lal Gauri Committee | Agricultural Marketing |
| SK Kalia Committee | Part Of NGO And SHG In Credit |
| SL Kapoor Committee | Institutional Credit To SSI |
| Ram Niwas Mirdha Committee (JPC) | Securities Scam |
| Rangarajan Committee | Computerization Of Banking Industry |
| RS Saria Committee | Agricultural Financing And Cooperative Societies |
| Raghavan Committee | Competition Law |
| Raja Chelliah Committee | Tax Reforms |
| Rajamannar Committee | Centre-State Fiscal Relationships |
| Rangarajan Committee | Public Sector Disinvestment |
| PR Khanna Committee | Establish Appropriate Supervisory Framework For NBFC |
| Purshottam Das Committee | Agricultural Finance And Cooperative Societies |
| Rashid Jilani Committee | Cash Credit System |
| Ray Committee | Industrial Sickness |
| RG Saraiya Committee (1972) | Banking Commission |
| PL Tandon Committee | Export Strategy |
| RH Khan Committee | Conversion Of Banks And SSIS |
| Vaghul Committee | Mutual Fund Scheme |
| Varshney Committee | Changed Procedures For Loans (>2 Lakhs) |
| RK Hajare Committee | Differential Interest Rates Scheme |
| S Padmanabhan Committee | Onsite Administration Function Of Banks |
| S Padmanabhan Committee | Examining Of Banks (By RBI) |
| Venketaiya Committee | Review Of Rural Financing System |
| Samal Committee | Rural Credit |
| SS Kohli Committee | Willful Defaulters |
| SS Nadkarni Committee | Marketing In Public Sector Banks |
| SC Choksi Committee | Direct Tax Law |
| RN Malhotra Committee | Reforms In Insurance Sector |
| RN Mirdha Committee | Cooperative Societies |
| RV Gupta Committee | Agricultural Credit Delivery |
| Sodhani Committee | Foreign Exchange Accounts In NRI Investment In India |
| SS Kohli Committee | Healing Of Ill Industrial Units |
| Sukhmoy Chakravarty Committee | To Examine The Functioning Of Monetary System |
| Tambe Committee | Term Loans To SSI |
| Thingalaya Committee | Restructuring Of RRB |
| Tiwari Committee | Rehabilitation Of Sick Industrial Undertakings |
| UK Sharma Committee | Lead Bank Scheme (Review) |
| Usha Thorat Panel | Financial Inclusion |
| Vipin Malik Committee | Consolidated Accounting By Banks |
| VT Dehejia Committee | To Learn Credit Requirements Of Industry And Trade As To Be Inflated |
| Vyas Committee | Rural Credit |
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Committees on Banking reforms in India – An Introduction
1: What does the acronym "ATM" stand for in banking?
Banks persist to play a significant position in the growing revolution of the Indian economy as by working as a connection between ultimate lenders and ultimate borrowers in the economy, commercial banks are instrumental in the transformation of saving into investment. Because of their central role in the Indian economic system in respective, and Indian economy in general, it becomes crucial to provide a strong, safe, stable, and sound banking scenario in India.
When the reforms of the entire sector of the Indian economy based on the compound process of liberalization, privatization, and globalization was brought out way back in 1991, it was soon recognized by the government that financial reforms i.e., reforms of the real sector cannot get their rational conclusion till the additional reforms in the banking and economic sector were also carried out. It was this realization of the interrelationship between real and financial sectors that paved way for banking and economic reforms in India.
As far as banking sector reforms in India are involved, they have mostly observed the two high-powered committees established by the monetary authority under the chairmanship of the former governor of RBI M. Narasimham. The Committee on the Financial System (1991) and the Committee on Banking Sector Reforms (1998) widely known as Narasimham Committee-I and Narasimham Committee-II respectively.
Committees related to Banking Sector Reforms
To endure the banking sector reforms there are different committees appointed in India. These committees look after all the banking sector reforms. They are answerable for these reforms. Below is the name of the committees in India which look after these reforms.
| Committees | Area of Focus |
| AK Bhuchar Committee | The arrangement between commercial banks and lending institutions |
| Bimal Jalan panel | Reviewing the applications for new bank licenses |
| Dave Committee (2000) | Pension-related Designs For Unorganized Sector |
| Deepak Mohanty Committee | Administration of Data and information in the RBI |
| Ajay Shankar Committee | For examining the functions of PPP cell |
| Abid Hussain Committee | For small scale Industries |
| Aditya Puri Committee | Circulation of Information related to credit |
| James Raj Committee | Helps in the working of public sector banks |
| Basel Committee | Administration of banks |
| Bhandari Committee | Restructuring of the RRBs |
| Bhide Committee | The arrangement between SFC’s and commercial banks |
| C Rangarajan committee | Eradicating the poverty scale of the country |
| Cook Committee | To examine the Capital adequacy of banks |
| Damodaran Committee | Modify the customer services in the banks |
| SN Verma Committee (1999) | Support in the Reconstruction of Commercial Banks |
| Deepak Parekh committee | Financing the Substructure sector |
| Dinesh Sharma Committee | Proposing the fresh regulation that is associated with the virtual or digital currencies |
| H R Khan Committee | Examining the unclaimed post office savings and PPP |
| N Rangachary committee | Evaluating the taxation policies in the IT Sector |
| N. K Singh Committee | Examining the budget management and fiscal responsibility act |
| Nachiket Mor Committee | Bringing the financial services for low-income households and small businesses |
| K.V.Kamath Panel | Examine the financial activities and architecture for small scale, medium scale, and microscale businesses |
| Justice M B Shah Commission | Associated with black money |
| M L Dhantwala Committee | Associated with Regional Rural Banks |
| MBN Rao Committee | Creating the blueprint for India’s first bank for women |
| Suma Verma Committee | Rescripting and updating the Banking Ombudsman Scheme, 2006 |
| Tandon Committee | Researching for credit |
| UK Sharma Committee | For analyzing NABARD’s Role In RRB |
| Narasimham Committee | For the reformations associated with the Banking Sector |
| Naresh Chandra committee | Creating a 14 member task force on various issues of security |
| Kelkar Committee | Reforming the Tax Construction |
| Parthasarathi Shome Committee | GAAR (General Anti Avoidance Rule) Execution |
| R V Gupta Committee | For Small scale Savings |
| R. Jilani Committee | Banking Examine System |
| R.H. Khan Committee | Blending the part of financial institutions |
| Raghuram Rajan Committee | Reformations For Financial Sector |
| Raja Chelliah Committee | Reformations in Tax |
| Rakesh Mohan Committee | Small scale Savings |
| Rattan P Watal Committee | Improving the digital settlement of pay system |
| Rekhi Committee | Matters of Indirect Taxes |
| RS Gujral Committee | Recommending the measures related to boost in MSME exports |
| S P Talwar Committee | Reconstructing the Public Sector Banks that are weak |
| A C Shah Committee | Non-Banking Financial Companies (NFBC) reformations |
| A Ghosh Committee | Malpractice in India Bank Sector |
| SS Nadkarni Committee | public sector banks marketing |
| A K Khandelwal Committee | Problems public sector banks associated with HR |
| Janakiraman Committee | Examination of the bank’s security transactions |
| K M Chandrasekhar committee | rationalizing the foreign investment standards |
| Urjit Patel Committee | Evaluating the monetary framework |
| Vaghul Committee | India’s money trades |
| Vipin Malik Committee | Bank’s combined Accounting |
To clear the drawbacks of the banking sectors in India, financial reforms were presented in the bank. The banks in India lack independence. This is echoed through the fact that the earnings across all the bank workers are the same irrespective of the health of the bank is involved. That is why economic and banking reforms are obtained in the banks of India. To know more about the banking sector, all Committees related to Banking PDF can help you.
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