Indian Contributions to Financial Regulation

Description: This quiz is designed to test your knowledge of the significant contributions made by Indian scholars and institutions to the field of financial regulation.
Number of Questions: 15
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Tags: indian finance financial regulation indian contributions
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Who is widely regarded as the father of Indian financial regulation?

  1. Dr. B.R. Ambedkar

  2. Dr. Manmohan Singh

  3. Dr. C.D. Deshmukh

  4. Dr. Raghuram Rajan


Correct Option: C
Explanation:

Dr. C.D. Deshmukh, the first Governor of the Reserve Bank of India, is credited with laying the foundation for India's financial regulatory framework.

Which committee was responsible for recommending the establishment of the Securities and Exchange Board of India (SEBI)?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: C
Explanation:

The Chakravarty Committee, headed by Prof. S.S. Chakravarty, recommended the establishment of SEBI in its report submitted in 1982.

What is the primary objective of the Reserve Bank of India (RBI)?

  1. To regulate the banking sector

  2. To manage the country's foreign exchange reserves

  3. To promote economic growth

  4. To control inflation


Correct Option: A
Explanation:

The RBI's primary objective is to regulate the banking sector in India and ensure its stability.

Which Indian institution is responsible for regulating the insurance sector?

  1. Insurance Regulatory and Development Authority of India (IRDAI)

  2. Securities and Exchange Board of India (SEBI)

  3. Reserve Bank of India (RBI)

  4. Pension Fund Regulatory and Development Authority (PFRDA)


Correct Option: A
Explanation:

IRDAI is the regulatory body for the insurance sector in India.

What is the name of the law that governs the functioning of SEBI?

  1. Securities and Exchange Board of India Act, 1992

  2. Companies Act, 2013

  3. Reserve Bank of India Act, 1934

  4. Insurance Regulatory and Development Authority Act, 1999


Correct Option: A
Explanation:

The Securities and Exchange Board of India Act, 1992, provides the legal framework for SEBI's operations.

Which committee recommended the introduction of the concept of 'Universal Banking' in India?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: A
Explanation:

The Narasimham Committee, headed by Shri M. Narasimham, recommended the introduction of Universal Banking in its report submitted in 1991.

What is the name of the committee that suggested reforms in the Indian banking sector in the wake of the 1991 economic crisis?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: A
Explanation:

The Narasimham Committee, headed by Shri M. Narasimham, was constituted in 1991 to suggest reforms in the Indian banking sector.

Which committee recommended the establishment of the National Housing Bank (NHB)?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: C
Explanation:

The Chakravarty Committee, headed by Prof. S.S. Chakravarty, recommended the establishment of NHB in its report submitted in 1982.

What is the name of the committee that suggested reforms in the Indian financial sector in the wake of the 1997 Asian financial crisis?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: B
Explanation:

The Rangarajan Committee, headed by Shri C. Rangarajan, was constituted in 1997 to suggest reforms in the Indian financial sector.

Which committee recommended the introduction of risk-based supervision in Indian banks?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: D
Explanation:

The Jalan Committee, headed by Shri Bimal Jalan, recommended the introduction of risk-based supervision in Indian banks in its report submitted in 1998.

What is the name of the committee that suggested reforms in the Indian financial sector in the wake of the 2008 global financial crisis?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: D
Explanation:

The Jalan Committee, headed by Shri Bimal Jalan, was constituted in 2008 to suggest reforms in the Indian financial sector.

Which committee recommended the introduction of the concept of 'Financial Inclusion' in India?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: B
Explanation:

The Rangarajan Committee, headed by Shri C. Rangarajan, recommended the introduction of Financial Inclusion in its report submitted in 2008.

What is the name of the committee that suggested reforms in the Indian financial sector in the wake of the 2013 Taper Tantrum?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: D
Explanation:

The Jalan Committee, headed by Shri Bimal Jalan, was constituted in 2013 to suggest reforms in the Indian financial sector.

Which committee recommended the introduction of the concept of 'Responsible Banking' in India?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: D
Explanation:

The Jalan Committee, headed by Shri Bimal Jalan, recommended the introduction of Responsible Banking in its report submitted in 2014.

What is the name of the committee that suggested reforms in the Indian financial sector in the wake of the 2018 IL&FS crisis?

  1. Narasimham Committee

  2. Rangarajan Committee

  3. Chakravarty Committee

  4. Jalan Committee


Correct Option: D
Explanation:

The Jalan Committee, headed by Shri Bimal Jalan, was constituted in 2018 to suggest reforms in the Indian financial sector.

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