Different Committees in India - Prelims 2026 MCQs

 

1)  With reference to different Committees in India, consider the following details:

Sl. No.	Committee	Objective	Organization under which it was formed
1.	R.N. Malhotra Committee	Comprehensive reforms of Insurance sector in India	Insurance Regulatory and Development Authority of India
2.	L.C. Gupta Committee	Preparing a roadmap for the introduction of derivatives trading in India	Securities and Exchange Board of India
3.	Urjit R. Patel Committee	Preparing a roadmap for reforming bank lending to the Housing sector	Reserve Bank of India
4.	Y.H. Malegam Committee	Preparing a roadmap for reforms in Microfinance sector in India	Reserve Bank of India

In which of the above rows are all the details correctly matched?

a)  2 only

b)  2 and 3

c)   1, 3 and 4

d)  2 and 4

 

Correct Answer: (d) 2 and 4

Explanation:

• Row 1 is incorrectly matched: While the R.N. Malhotra Committee was indeed formed for the comprehensive reform of the insurance sector, it was set up by the Government of India in 1993. In fact, the Insurance Regulatory and Development Authority of India (IRDAI) was created in 1999 as a direct result of this committee's recommendations. Therefore, IRDAI could not have formed it.
• Row 2 is correctly matched: The L.C. Gupta Committee was appointed by the Securities and Exchange Board of India (SEBI) in 1996 to develop a regulatory framework for the introduction of derivatives trading in India.
• Row 3 is incorrectly matched: The Urjit R. Patel Committee was appointed by the RBI, but its objective was not related to the housing sector. It was the landmark committee formed to revise and strengthen the Monetary Policy Framework, which led to India officially adopting flexible inflation targeting (using CPI as the anchor).
• Row 4 is correctly matched: The Y.H. Malegam Committee was constituted by the Reserve Bank of India (RBI) in 2010 to study issues and concerns in the Microfinance Institution (MFI) sector, primarily in response to the Andhra Pradesh microfinance crisis.

Strategy: For high-stakes exams, chronological awareness is a powerful elimination tool. If you recall that the Malhotra Committee birthed the IRDAI, you instantly know Row 1 is a trap. Eliminating Row 1 automatically removes option (c). Furthermore, associating Urjit Patel with his most famous contribution—the inflation-targeting Monetary Policy Committee—kills Row 3, eliminating option (b). You are then left choosing between (a) and (d).