Question Details

Question
Who is known as the father of banking sector reforms in India?

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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