✅ Free All content on Svayambu is 100% free forever — mock tests, current affairs, banking awareness and more.
← All Articles
Banking Awareness

Important Banking Committees in India 2026: Chairmen, Reports & Recommendations | IBPS SBI RRB

📅 03 November 2026

Important Banking Committees in India 2026

Chairmen, Years, Objectives, Major Recommendations and Exam Facts for IBPS, SBI, RRB, RBI Grade B, NABARD and Other Competitive Exams

Why this topic matters: Banking committees are repeatedly asked in Banking Awareness and General Awareness examinations. Questions may ask the committee chairman, year, purpose, recommendation or the banking reform associated with a committee. The most important names include the Narasimham Committee, Nachiket Mor Committee, Urjit Patel Committee, Bimal Jalan Committee, Malegam Committee, Shyamala Gopinath Committee, Khan Committee and P. J. Nayak Committee.

Table of Contents

  1. Meaning of a Banking Committee
  2. Master Committee Table
  3. Narasimham Committee I — 1991
  4. Narasimham Committee II — 1998
  5. Nachiket Mor Committee
  6. Urjit Patel Committee
  7. Bimal Jalan Committee
  8. Malegam Committee
  9. Shyamala Gopinath Committee
  10. Khan Committee
  11. P. J. Nayak Committee
  12. Deepak Mohanty Committee
  13. Damodaran Committee
  14. RBI / Monetary Policy Committees
  15. Other Important Committees
  16. Committee Comparison
  17. Exam Traps
  18. 100 Rapid Revision Facts
  19. FAQs
  20. SEO Keyword Map

1. What is a Banking Committee?

A banking committee is generally constituted by the Government of India, Reserve Bank of India or another competent authority to study a specific issue relating to banking, finance, monetary policy, financial inclusion, banking regulation, institutional structure or economic development.

A committee normally studies the existing system, identifies problems, consults stakeholders and submits recommendations. Some recommendations may later become part of laws, regulations, policies or institutional reforms.

Why are Committees Important for Banking Exams?

  • Questions frequently connect a committee with its chairman.
  • Questions may ask the year in which the committee was formed.
  • Questions may ask the purpose of the committee.
  • Questions may ask a major recommendation.
  • Questions may ask which committee recommended a particular banking reform.
  • Two committees with the same chairman or similar subjects may be used as confusing options.

2. Master Table — Most Important Banking Committees

Committee Chairman Year Main Area
Narasimham Committee I M. Narasimham 1991 Financial-sector and banking-sector reforms
Narasimham Committee II M. Narasimham 1998 Banking-sector reforms and strengthening of banks
Khan Committee S. L. Khan 1997 Harmonisation of roles of development financial institutions and banks
Nachiket Mor Committee Nachiket Mor 2013 Financial inclusion
Urjit Patel Committee Urjit R. Patel 2013 Monetary policy framework
P. J. Nayak Committee P. J. Nayak 2014 Governance of bank boards
Bimal Jalan Committee Bimal Jalan 2018 Economic capital framework of RBI
Malegam Committee 2010 Microfinance sector
Shyamala Gopinath Committee Shyamala Gopinath 2010 Customer service in banks
Damodaran Committee M. Damodaran 2010 Customer service in banks
Deepak Mohanty Committee Deepak Mohanty 2015 Financial inclusion
Vijay Kelkar Committee Vijay Kelkar 2002 Tax reforms

3. Narasimham Committee I — 1991

Chairman: M. Narasimham

The first Narasimham Committee was constituted in the context of financial-sector reforms following the economic and financial challenges of the early 1990s.

Main Objective

  • Examine the structure of the financial system.
  • Recommend reforms to improve efficiency and competitiveness.
  • Strengthen the banking system.
  • Improve financial-sector regulation and supervision.

Major Recommendations

  • Reduction in the statutory pre-emptions imposed on bank resources.
  • Reduction in the Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR) over time.
  • Introduction of prudential norms relating to income recognition, asset classification and provisioning.
  • Capital adequacy requirements for banks.
  • Greater operational flexibility for banks.
  • Strengthening of banking supervision.
  • Creation/strengthening of institutions for improved financial-sector supervision.
Exam Memory: Narasimham Committee I → 1991 → Banking Sector Reforms.

4. Narasimham Committee II — 1998

Chairman: M. Narasimham

The second Narasimham Committee was constituted to review the progress of financial-sector reforms and recommend further reforms to make the banking system stronger and more competitive.

Major Areas

  • Strengthening the capital base of banks.
  • Improving asset quality.
  • Reducing non-performing assets.
  • Improving banking supervision.
  • Strengthening risk-management systems.
  • Improving governance and operational efficiency.

Important Recommendations

  • Stronger capital adequacy norms.
  • Reduction in gross and net NPAs.
  • Strengthening asset classification and provisioning.
  • Greater emphasis on risk management.
  • Banking consolidation and stronger institutions.
  • Improvement in the functioning of debt recovery mechanisms.
  • Greater autonomy and professionalism in bank management.
Very Important: Do not confuse:

Narasimham I → 1991
Narasimham II → 1998

5. Nachiket Mor Committee — Financial Inclusion

Chairman: Nachiket Mor

The Nachiket Mor Committee was constituted by the RBI to examine the comprehensive financial services needs of small businesses and low-income households.

Main Focus

  • Universal access to financial services.
  • Banking access for low-income households.
  • Improving financial inclusion.
  • Strengthening payment and savings access.
  • Improving access to credit and insurance.

Important Recommendation

One of the well-known recommendations was the idea of universal financial access through a specialised institution called a Payments Bank for providing payments and deposit services to underserved customers.

Other Important Ideas

  • Universal access to a range of financial services.
  • Greater use of technology.
  • Improved financial inclusion infrastructure.
  • Better access to payments, savings, credit and insurance.
Memory: Nachiket Mor → Financial Inclusion / Universal Financial Services.

6. Urjit Patel Committee — Monetary Policy Framework

Chairman: Dr. Urjit R. Patel

The Expert Committee to Revise and Strengthen the Monetary Policy Framework was constituted by the Reserve Bank of India in 2013.

Main Objective

  • Review the existing monetary policy framework.
  • Improve the effectiveness of monetary policy.
  • Strengthen the focus on price stability.
  • Improve monetary policy communication and accountability.

Important Recommendations

  • Give greater importance to inflation control in monetary policy.
  • Use consumer-price inflation as an important nominal anchor.
  • Move towards a formal inflation-targeting framework.
  • Establish a Monetary Policy Committee framework.
  • Strengthen accountability of monetary policy.
Exam Memory: Urjit Patel Committee → Monetary Policy Framework.

7. Bimal Jalan Committee — RBI Economic Capital Framework

Chairman: Dr. Bimal Jalan

The Expert Committee to Review the Extant Economic Capital Framework of the Reserve Bank of India was chaired by former RBI Governor Dr. Bimal Jalan.

Main Objective

The committee examined the framework for determining the appropriate level of risk provisions and reserves that should be maintained by the Reserve Bank and the framework governing surplus transfer to the Government.

Important Areas

  • Economic capital framework of RBI.
  • Risk provisioning.
  • Contingent risk buffer.
  • Surplus transfer framework.
  • Balance-sheet strength of the central bank.
Memory: Bimal Jalan Committee → RBI Economic Capital Framework.

8. Malegam Committee — Microfinance

Chairman: C. M. D. N. Malegam

The Malegam Committee examined issues relating to the microfinance sector and the functioning of microfinance institutions.

Main Areas

  • Microfinance institutions.
  • Interest rates and borrower protection.
  • Multiple lending.
  • Over-indebtedness.
  • Recovery practices.
  • Regulatory framework for microfinance.

Why Important?

The committee's work contributed to the development of a more structured regulatory approach to the microfinance sector.

Memory: Malegam Committee → Microfinance.

9. Shyamala Gopinath Committee — Customer Service

Chairperson: Shyamala Gopinath

The committee examined customer service in banks and suggested improvements in the banking experience of customers.

Important Areas

  • Customer service standards.
  • Transparency in banking charges.
  • Grievance redressal.
  • Banking service quality.
  • Customer communication.
  • Improvement in banking practices affecting customers.
Memory: Shyamala Gopinath Committee → Customer Service in Banks.

10. Khan Committee — Development Financial Institutions and Banks

Chairman: S. L. Khan

The Khan Committee examined the relationship between Development Financial Institutions (DFIs) and banks and the need to harmonise their roles.

Important Concept

The committee is associated with the idea of greater convergence between the roles of development financial institutions and commercial banks.

Memory: Khan Committee → Harmonisation of roles of DFIs and Banks.

11. P. J. Nayak Committee — Bank Board Governance

Chairman: P. J. Nayak

The committee examined governance issues relating to boards of banks, particularly public sector banks.

Major Areas

  • Governance of public sector banks.
  • Professionalisation of bank boards.
  • Greater autonomy for bank management.
  • Improvement in accountability.
  • Separation of ownership and management functions.
  • Improvement in the quality and effectiveness of bank boards.

Important Recommendation

The committee recommended restructuring the relationship between the Government and public sector bank boards to improve professional governance and autonomy.

Memory: P. J. Nayak Committee → Governance of Bank Boards / Public Sector Banks.

12. Deepak Mohanty Committee — Financial Inclusion

Chairman: Deepak Mohanty

The committee was associated with reviewing and suggesting measures for improving financial inclusion and financial literacy.

Main Areas

  • Financial inclusion.
  • Financial literacy.
  • Access to formal financial services.
  • Strengthening the institutional framework for inclusion.
  • Improving access for underserved groups.
Memory: Deepak Mohanty Committee → Financial Inclusion and Financial Literacy.

13. Damodaran Committee — Customer Service in Banks

Chairman: M. Damodaran

The committee reviewed customer service in banks and examined ways to improve banking services for customers.

Important Areas

  • Customer service.
  • Transparency.
  • Banking charges.
  • Grievance redressal.
  • Customer rights.
  • Improvement in banking service standards.
Memory: Damodaran Committee → Customer Service.

14. Monetary Policy Committee — MPC

The Monetary Policy Committee is not merely a temporary expert committee like many committees discussed above. It is a statutory decision-making body under India's monetary policy framework.

Purpose

  • Determine the policy repo rate required to achieve the inflation target.
  • Contribute to maintaining price stability while keeping growth in mind.
  • Improve transparency and accountability in monetary policy decisions.

Composition

The MPC has six members:

  • Three members nominated by the Central Government.
  • Three members from the RBI, including the RBI Governor.

Important Exam Point

The RBI Governor is the ex-officio Chairperson of the Monetary Policy Committee.

Do not confuse:

Urjit Patel Committee → Recommended the monetary policy framework changes.

MPC → Statutory body that takes monetary policy decisions under the current framework.

15. Other Important Committees for Banking & General Awareness

Committee / Commission Chairman / Head Year Subject
Rangarajan Committee C. Rangarajan Various assignments Banking, financial inclusion, poverty and economic issues
Kelkar Committee Vijay Kelkar 2002 Tax reforms
Tarapore Committee S. S. Tarapore 1997 Capital account convertibility
Tarapore Committee II S. S. Tarapore 2006 Fuller capital account convertibility
Raghuram Rajan Committee Raghuram G. Rajan 2008 Financial-sector reforms
Raghuram Rajan Committee on State Development Raghuram G. Rajan 2013 State development classification / economic indicators
Malegam Committee C. M. D. N. Malegam 2010 Microfinance
Nachiket Mor Committee Nachiket Mor 2013 Financial inclusion
P. J. Nayak Committee P. J. Nayak 2014 Bank governance
Bimal Jalan Committee Bimal Jalan 2018 RBI economic capital framework
Deepak Mohanty Committee Deepak Mohanty 2015 Financial inclusion
Shyamala Gopinath Committee Shyamala Gopinath 2010 Customer service
Damodaran Committee M. Damodaran 2010 Customer service

16. Committee Comparison — High Priority

Committee Chairman Remember With
Narasimham I M. Narasimham 1991 Banking Reforms
Narasimham II M. Narasimham 1998 Banking Reforms
Nachiket Mor Nachiket Mor Financial Inclusion
Urjit Patel Urjit Patel Monetary Policy Framework
Bimal Jalan Bimal Jalan RBI Economic Capital
Malegam C. M. D. N. Malegam Microfinance
Shyamala Gopinath Shyamala Gopinath Customer Service
Damodaran M. Damodaran Customer Service
Khan S. L. Khan DFIs and Banks
P. J. Nayak P. J. Nayak Bank Governance
Deepak Mohanty Deepak Mohanty Financial Inclusion
Tarapore S. S. Tarapore Capital Account Convertibility

17. Important Exam Traps

Trap 1 — Narasimham I vs Narasimham II

Both were chaired by M. Narasimham, but they belong to different reform phases.

1991 → First Narasimham Committee
1998 → Second Narasimham Committee

Trap 2 — Urjit Patel vs MPC

Urjit Patel chaired the committee that recommended changes to the monetary policy framework. The MPC is the statutory body that makes monetary policy decisions.

Trap 3 — Bimal Jalan

Bimal Jalan Committee is associated with the Economic Capital Framework of RBI.

Trap 4 — Malegam

Malegam Committee is strongly associated with microfinance.

Trap 5 — Nachiket Mor

Nachiket Mor Committee is associated with financial inclusion and universal access to financial services.

Trap 6 — P. J. Nayak

P. J. Nayak Committee is associated with bank board governance and public sector bank governance.

Trap 7 — Tarapore

Tarapore Committee is associated with capital account convertibility.

Trap 8 — Customer Service Committees

Shyamala Gopinath Committee and Damodaran Committee are both associated with customer service-related banking issues. Read the exact question carefully.

18. 100 Rapid Revision Facts

  1. Narasimham Committee I was associated with banking-sector reforms.
  2. Narasimham Committee I was formed in 1991.
  3. M. Narasimham chaired the first Narasimham Committee.
  4. Narasimham Committee II was formed in 1998.
  5. M. Narasimham chaired the second Narasimham Committee.
  6. The first Narasimham Committee belongs to the 1991 reform period.
  7. The second Narasimham Committee belongs to the 1998 reform phase.
  8. Prudential norms are strongly associated with banking reforms of the Narasimham Committee era.
  9. Capital adequacy was an important banking reform area.
  10. Asset classification was an important banking reform area.
  11. Income recognition norms were an important reform area.
  12. Provisioning norms were an important reform area.
  13. NPA reduction was an important banking reform objective.
  14. Banking supervision was strengthened as part of reforms.
  15. Nachiket Mor Committee was associated with financial inclusion.
  16. Nachiket Mor Committee focused on comprehensive financial services.
  17. Payments Banks are associated with recommendations from the Nachiket Mor Committee.
  18. Financial inclusion aims to provide affordable financial services to underserved groups.
  19. Urjit Patel Committee was associated with monetary policy reform.
  20. Urjit Patel chaired the Expert Committee to Revise and Strengthen the Monetary Policy Framework.
  21. The Urjit Patel Committee was constituted in 2013.
  22. Inflation targeting became an important part of India's modern monetary policy framework.
  23. Consumer-price inflation became an important inflation measure.
  24. The Monetary Policy Committee is a statutory decision-making body.
  25. MPC has six members.
  26. The RBI Governor chairs the MPC.
  27. Bimal Jalan Committee examined RBI's economic capital framework.
  28. Bimal Jalan chaired the committee.
  29. The Bimal Jalan Committee was formed in 2018.
  30. Risk provisioning was an important issue examined by the Bimal Jalan Committee.
  31. The contingent risk buffer was an important concept in the RBI economic capital framework.
  32. Surplus transfer from RBI to Government was part of the framework examined.
  33. Malegam Committee was associated with microfinance.
  34. C. M. D. N. Malegam chaired the Malegam Committee.
  35. The committee examined microfinance-sector issues.
  36. Borrower protection was an important microfinance concern.
  37. Multiple lending was an important concern.
  38. Over-indebtedness was an important concern.
  39. Recovery practices were examined in the microfinance context.
  40. Shyamala Gopinath Committee was associated with customer service.
  41. Shyamala Gopinath examined customer-service issues in banking.
  42. Transparency in banking charges was an important customer-service issue.
  43. Grievance redressal is an important banking customer-service concept.
  44. Damodaran Committee was also associated with customer service.
  45. M. Damodaran chaired the Damodaran Committee.
  46. Khan Committee was chaired by S. L. Khan.
  47. Khan Committee dealt with the relationship between banks and DFIs.
  48. DFI means Development Financial Institution.
  49. Harmonisation of roles was an important Khan Committee theme.
  50. P. J. Nayak Committee dealt with bank governance.
  51. P. J. Nayak chaired the committee.
  52. Public sector bank governance was a major focus.
  53. Professionalisation of bank boards was an important recommendation area.
  54. Bank autonomy was an important governance issue.
  55. Deepak Mohanty Committee was associated with financial inclusion.
  56. Deepak Mohanty was the chairman.
  57. Financial literacy was an important area.
  58. Tarapore Committee was associated with capital account convertibility.
  59. S. S. Tarapore chaired the committee.
  60. Tarapore Committee I was formed in 1997.
  61. Tarapore Committee II was formed in 2006.
  62. Capital account convertibility is different from current account convertibility.
  63. Narasimham Committee is associated with banking reforms.
  64. Urjit Patel Committee is associated with monetary policy.
  65. Nachiket Mor Committee is associated with financial inclusion.
  66. Malegam Committee is associated with microfinance.
  67. Bimal Jalan Committee is associated with RBI economic capital.
  68. P. J. Nayak Committee is associated with bank governance.
  69. Tarapore Committee is associated with capital account convertibility.
  70. Khan Committee is associated with banks and DFIs.
  71. Shyamala Gopinath Committee is associated with customer service.
  72. Damodaran Committee is associated with customer service.
  73. Narasimham I = 1991.
  74. Narasimham II = 1998.
  75. Urjit Patel Committee = 2013.
  76. Nachiket Mor Committee = 2013.
  77. P. J. Nayak Committee = 2014.
  78. Deepak Mohanty Committee = 2015.
  79. Bimal Jalan Committee = 2018.
  80. Malegam Committee = 2010.
  81. Shyamala Gopinath Committee = 2010.
  82. Damodaran Committee = 2010.
  83. Banking reforms include capital adequacy.
  84. Banking reforms include asset classification.
  85. Banking reforms include provisioning.
  86. Banking reforms include income recognition.
  87. NPA means Non-Performing Asset.
  88. CRAR means Capital to Risk-Weighted Assets Ratio.
  89. SLR means Statutory Liquidity Ratio.
  90. CRR means Cash Reserve Ratio.
  91. DFI means Development Financial Institution.
  92. MPC means Monetary Policy Committee.
  93. RBI means Reserve Bank of India.
  94. Financial inclusion includes access to savings.
  95. Financial inclusion includes access to payments.
  96. Financial inclusion includes access to credit.
  97. Financial inclusion includes access to insurance.
  98. Financial inclusion includes financial literacy.
  99. Microfinance focuses on small-value financial services for eligible low-income households and micro-enterprises.
  100. Bank governance concerns the effectiveness and accountability of bank boards and management.
  101. Economic capital of a central bank is different from the regulatory capital of a commercial bank.
  102. Monetary policy framework is different from fiscal policy.
  103. Committees make recommendations; implementation depends on the competent authority and subsequent policy or regulatory action.

19. Frequently Asked Questions

Which committee is known as the Banking Sector Reforms Committee?

The Narasimham Committee is strongly associated with India's banking and financial-sector reforms, particularly the committees of 1991 and 1998.

Who chaired the Narasimham Committee?

M. Narasimham chaired both the first and second Narasimham Committees.

Which committee was related to financial inclusion?

The Nachiket Mor Committee is one of the most important committees associated with comprehensive financial inclusion. The Deepak Mohanty Committee is also important for financial inclusion.

Which committee was related to monetary policy framework?

The Urjit Patel Committee was constituted to revise and strengthen India's monetary policy framework.

Which committee examined RBI's economic capital framework?

The Bimal Jalan Committee examined the RBI's economic capital framework.

Which committee is associated with microfinance?

The Malegam Committee is strongly associated with microfinance-sector regulation and borrower-related issues.

Which committee is associated with public sector bank governance?

The P. J. Nayak Committee is associated with governance of bank boards, particularly public sector banks.

Which committee is associated with capital account convertibility?

The Tarapore Committee is associated with capital account convertibility.

Who chaired the Tarapore Committee?

S. S. Tarapore chaired the Tarapore Committee.

What is the difference between Narasimham Committee I and II?

The first committee was constituted in 1991 and the second in 1998. Both dealt with banking and financial-sector reforms, but the second reviewed and extended the reform agenda with greater emphasis on strengthening banks, asset quality, capital and risk management.

Is the MPC the same as the Urjit Patel Committee?

No. The Urjit Patel Committee was an expert committee that recommended changes to the monetary policy framework. The MPC is the statutory body that takes monetary policy decisions under the current framework.

20. SEO Keyword Map

  • Important banking committees in India
  • Banking committees for IBPS
  • Banking committees for SBI exam
  • Banking committees for RRB
  • Banking committees 2026
  • RBI committees
  • Narasimham Committee
  • Narasimham Committee 1991
  • Narasimham Committee 1998
  • Narasimham Committee recommendations
  • Nachiket Mor Committee
  • Nachiket Mor Committee recommendations
  • Urjit Patel Committee
  • Urjit Patel Committee recommendations
  • Bimal Jalan Committee
  • Bimal Jalan Committee recommendations
  • Malegam Committee
  • Malegam Committee microfinance
  • Shyamala Gopinath Committee
  • Damodaran Committee
  • Khan Committee banking
  • P J Nayak Committee
  • Deepak Mohanty Committee
  • Tarapore Committee
  • banking awareness committees and commissions
  • banking committee chairman and year
  • banking committee recommendations
  • RBI committee list
  • IBPS banking awareness notes
  • SBI banking awareness notes
  • RRB banking awareness notes

Final One-Line Memory Chart

Narasimham
Banking Reforms
Nachiket Mor
Financial Inclusion
Urjit Patel
Monetary Policy Framework
Bimal Jalan
RBI Economic Capital
Malegam
Microfinance
P. J. Nayak
Bank Governance
Khan
Banks + DFIs
Tarapore
Capital Account Convertibility
Deepak Mohanty
Financial Inclusion
Shyamala Gopinath
Customer Service
Damodaran
Customer Service
Exam Revision Order: For IBPS/SBI/RRB preparation, first memorize Narasimham I, Narasimham II, Urjit Patel, Nachiket Mor, Bimal Jalan, Malegam, P. J. Nayak, Khan and Tarapore. Then revise the remaining committees.

© 2026 svayambu — Banking Awareness Notes

IBPS | SBI | RRB | RBI Grade B | NABARD | Banking Awareness

ALERT

Namaste 🙏 I'm Sharath, the builder behind Svayambu. Detailed notes for every subject will be uploaded soon — I'm actively working on them. Kindly cooperate until then, and enjoy practising with our mock tests and subject-wise quizzes. All content is 100% free, forever.