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Kumar Managalam
Birla Committee
Ø Report
submitted in Mar 2000
Ø Dealt
with Corporate Governance aimed to protect investor interests
Ø Made
25 recommendations of which 19 are mandatory
Ø Some
recommendations: Board to have atleast 50% non-executive directors; setting
up of audit committee; regular meeting of board and redressal of
shareholders? complaints
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Narasimhan
Committee- II
Ø Report
submitted in 1998
Ø To
review the progress in Banking sector reforms
Ø Major
areas covered: Strengthening capital adequacy, Asset quality, Prudential
norms & disclosure requirements; Systems and methods in Banks and
structural issues
Ø Some
recommendations: Marking government security to market; increase in CAR;
transferring NPA to ARC as a one time measure; reduction in transit time from
sub-standard to doubtful; provision for standard asset; bringing down
government holding in nationalized banks
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Pannirselvam
Committee
Ø Report
submitted in 1998
Ø To
suggest measures for reduction in NPAs and effective recovery of banks? dues
Ø Some
recommendations: legislative changes; setting up of ARF; upgrading credit
appraisal/credit monitoring system; incentives for staff for recovery;
interest relief to promptly paying borrowers; paripassu charge for banks and
FIs
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Narasimham
Committee-1
Ø Report
submitted in 1991
Ø Purpose:
To suggest measures for banking sector reforms
Ø Some
key recommendations: Reduction in SLR/CRR; deregulation of interest rate;
introduction of IRAC norms; creation of ARF; entry of private/new banks;
abolition of branch licensing; liberal
opening of foreign offices; shift to syndicated lending; removal of
dual control of RBI and Govt.
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Nayak Committee
Ø Purpose:
To facilitate easy flow of credit to SSI sector
Ø Some
recommendations: Min 20% of turnover as working capital limits; 100% finance
for Working Capital for limits upto Rs.10 lacs for tiny units; opening of
specialized SSI branches; ombudsman within banks to address SSI grievances;
redefinition of sick units; reduction in charges/overdue interest; setting up
of factoring services
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Ghosh
Committee
Ø Purpose:
To suggest measures to contain bank frauds.
Ø Some
recommendations: Concurrent audit by external auditors in large branches; surprise
inspections; photograph in accounts mandatory; scrutiny of personnel in
sensitive posts; surveillance of doubtful officers; speedy disposal of
disciplinary cases
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Goiporia
Committee
Ø Purpose;
To suggest measures to improve customer service
Ø Some
recommendations: Employees? working hours to be 15 minutes earlier; extension
of business hours; nomination facility; passbook system for TDRs;
introduction of bank order; instant credit for outstation cheques; value
dating of TTs; single window approach for consortium finance; wearing
Identity badges; optimum branch size; pay telephones in large branches.
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Rakesh Mohan
Committee
Ø Purpose:
To suggest measures for commercialisation/funding of infrastructure projects
Ø Some
recommendations: Setting up of transparent
regulatory framework; government to subscribe to equity; tax relief for
equity investment; permission to private companies to issue tax free bonds;
removal of investment restriction for Fijis; apply ?Polluter Pays? principle;
cost-based pricing for power; corporatisation of telecom
Ø Private
sector participation in long
gestation projects; develop atleast 2 ports as mega ports
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RBI
working group on Credit Information Bureau
Ø Purpose;
To suggest effective mechanism for mitigating credit risk
Ø Some
recommendations: Amendment to banking acts; permission to public sector banks
with foreign collaborator for setting up of bureau; information above cut-off
limits of Rs.10 lakhs and above for corporates and Rs.1 lac and above for
retail customers; data security and validation
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Tarapore
Committee Report
Ø
Constituted in Feb 1997
Ø
Purpose: To suggest measures and a time frame required for
achieving Current Account Convertibility (CAC).
Ø
Necessary conditions for CAC as suggested by the Committee: Fiscal deficit to be down to 3%; inflation
to be in the range of 3-5%; country?s debt service ratio to be less than 20%;
NPA of banks to be less than 5%; CRR to be 3%; total deregulation of interest
rate; adequate forex reserves equivalent to 6 months imports
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