Who is known as the father of banking sector reforms in India?
(a) Sir Osborne Smith
(b) Sir Benegal Rama Rau
(c) Maidavolu Narasimham
(d) Manmohan Singh

Correct Option: (c)


Solution

Who was M Narasimham?
  • Narasimham was known for being the chair of two high-powered committees on banking and financial sector reforms.
  • Such is the importance of the two Narasimham Committees that some of their aspects are referred to and employed to this date. For instance, the idea of bank mergers and creating strong megabanks was first mooted by the Narasimham Committee.


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