Economic Reforms

The second Narasimham Committee, formally known as the Committee on Banking Sector Reforms, was appointed by the Government of India in 1998. Its purpose was to review the progress of the first phase of banking reforms (which followed the first committee's report in 1991) and to chart a course for further strengthening the financial system.

The Narasimham Committee, headed by Maidavolu Narasimham, was set up in 1991 to suggest reforms for India's financial system. Its recommendations covered all aspects of the banking sector, including structure, organization, functions, and procedures. This committee's reports (there was a second one in 1998) were instrumental in shaping the modern banking landscape in India.