On the recommendation of which committee, the insurance sector has bee
A. Birla Committee
B. Malhotra Committee
C. Chaturvedi Committee
D. Patil Committee
Right Answer is: B
On the recommendation of Malhotra Committee, the insurance sector has been privatized in India.
• Malhotra committee was constituted to make recommendation for Insurance sector.
• It submitted its report in January 1994.
• Liberalization of the Indian insurance market was recommended in this report.
• Malhotra Committee, indicating that the market should be opened to private-sector competition, and ultimately, foreign private-sector competition.
• This Committee was headed by R.N Malhotra.
• He was the seventeenth governor of the Reserve Bank of India.