Q. Which of the following committees underlined the need and laid foundations for money market development in India?

[A] Chakravarthy Committee & Vahul Committee

[B] Narasimhan Committee & Vahul Committee

[C] Narasimhan Committee & Chakravarthy Committee

[D] Narasimhan Committee & Shome Committee

Answer: A
Notes:

The organised form of money market in India is just close to three decades old.  

  • However, its presence has been there, but restricted to the government only.  
  • It was the Chakravarthy Committee (1985) which, for the first time, underlined the need of an organised money market in the country and the Vahul Committee (1987) laid the blue print for its development. 

Source: TMH Ramesh Singh 

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