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In 1993, the Government set up a committee under the chairmanship of RN Malhotra, former Governor of RBI, to propose recommendations for reforms in the insurance sector.The objective was to complement the reforms initiated in the financial sector.
Sep 20, 2024 · Background. 1 1991: Government of India begins the economic reforms programme and financial sector reforms. 2 1993: Committee on Reforms in the Insurance Sector, headed by Mr. R. N. Malhotra, (Retired Governor, Reserve Bank of India) set up to recommend reforms.
1993: Committee on Reforms in the Insurance Sector, headed by Shri R. N. Malhotra (Retired Governor, Reserve Bank of India) set up to recommend reforms in insurance sector. 1994: Malhotra Committee recommends reforms after studying the insurance sector and taking inputs from all the stakeholders. Key recommendations of Malhotra Committee are:
- Sarkaria Commission
- Rajmannar Commission, 1969
- Anandpur Sahib Resolution, 1973
- Punchhi Commission, 2007
Background 1. The agitation for State autonomy led to the creation of the Sarkaria Commission by the Central Government to recommend changes in the Centre-State relationship. 2. The Commission submitted its report in 1988. 3. The founding fathers of the Indian Constitution were deeply concerned about ensuring the unity and integrity of the country....
In 1969, the Tamil Nadu government appointed Rajmannar Commission to look into this aspect and it submitted its report in 1971. It demanded readjustment of the VII schedule and residuary power to the states. Its other important recommendations are given in the following: 1. The setting of an Inter-State council immediately 2. Finance commissionto b...
Background
1. In 1978, the Akali Dal came out with a controversial resolution called the Anandpur Sahib Resolution. 2. It demanded greater autonomy for the States seeking Centre’s authority to be confined to only Defence, Foreign relation, Communications, Railways, and Currency. 3. It also demanded residuary powers for the State. 4. In the decade 1980, as the regional parties became very assertive, they put forth the demand for State autonomy in an organized manner. 5. Their ‘conclaves’ were held at Vij...
Recommendations
In December 1977, the Communist government in West Bengal published a memorandum called the West Bengal memorandum, which made the following recommendations: 1. The word ‘union’ in the constitution should be replaced by the word ‘federal’ 2. The centre’s jurisdiction to be restricted to only defence, foreign affairs, communications, and economic coordination 3. Deletion of articles 356, 357 and 360 4. Rajya Sabha to have equal powers with that of the Lok Sabha 5. Abolition of All-India servic...
Background
The Central Government constituted the Punchhi Commission in 2007 to examine centre-state relations, along with the possibility of giving sweeping powers to the centre for suo moto deployment of Central forces in states and investigation of crimes affecting national security. It was chaired by the former Chief Justice of India, M.M. Punchhi. It submitted its recommendation in 2009.
Recommendations of Punchhi Commission
Some of its important recommendations are given in the following: 1. It called for giving a fixed term of five years to the governors and their removal by the process of impeachment (similar to that of the President) by the State Legislature. 2. The governor should have the right to sanction the prosecution of a minister against the advice of the council of ministers. 3. It called for an amendment of Articles 355 and 356 to enable the centre to bring specific trouble-torn areas under its rule...
Nov 1, 2012 · A COMMITTEE was set up in 1993 under the chairmanship of R.N. Malhotra, former Governor of the Reserve Bank of India, to make recommendations for reforms in the insurance sector.
A committee was set up in 1993 under the chairmanship of R.N. Malhotra, former Governor of the Reserve Bank of India, to make recommendations for reforms in the insurance sector.
In April 1993, the former RBI Governor R. N. Malhotra presided over the formation of the Insurance Reforms Committee (IRC) as part of the economic reforms process. The committee’s report (January 1994) included the recommendations.
