Question

which committe recommended the introduction of certificate of deposits in the money market

Answer 1

Answer:

Chakravarty Committee was a strong proponent of free and flexible interest rates to promote savings, investments, government financial system and stability. RBI removed the upper ceiling of 16.5% and instead fixed a minimum of 16% per annum. The rates were further relaxed after the Narasimhan Committee report in 1991.

Explanation:

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Answer 2

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Chakravarty Committee

Chakravarty Committee was a strong proponent of free and flexible interest rates to promote savings, investments, government financial system and stability. RBI removed the upper ceiling of 16.5% and instead fixed a minimum of 16% per annum. The rates were further relaxed after the Narasimhan Committee report in 1991.

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