Question

The objective of government to appoint narasimham committee is

Answer 1

Greater autonomy was proposed for thepublic sector banks in order for them to function with equivalent professionalism as their international counterparts.For this the panel recommended that recruitment procedures, training and remuneration policies of public sector banks be brought in line with the best-market-practices of professional bank management. Secondly, the committee recommended GOI equity in nationalized banks be reduced to 33% for increased autonomy.It also recommended the RBI relinquish its seats on the board of directors of these banks. The committee further added that given that the government nominees to the board of banks are often mp, politicians, bureaucrats, etc., they often interfere in the day-to-day operations of the bank in the form of the behest-lending. As such the committee recommended a review of functions of banks boards with a view to make them responsible for enhancing shareholder value through formulation of corporate strategy and reduction of the government equity.]

To implement this, criteria for autonomous status was identified by March 1999 (among other implementation measures) and 17 banks were considered eligible for autonomy.But some recommendations like reduction in Government's equity to 33%, the issue of greater professionalism and independence of the board of directors of public sector banks is still awaiting Government follow-through and implementation.
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Answer 2

In the August of 1991 the Narsimham Committee was set up by the the Former Governor of the Reserved Bank of India M Narsimham. The sole

Focus of this committee was to enhance the economic conditions of the nation and to witness a nationwide betterment of the financial status . Comprehensive recommendations made by the committee include the introduction of the capital markets and banking sectors.