Who chaired the Committee on Reforms in the Insurance Sector that recommended opening insurance to private and foreign players?
A{'text': 'Y. V. Reddy', 'letter': 'A'}
B{'text': 'C. Rangarajan', 'letter': 'B'}
C{'text': 'R. N. Malhotra', 'letter': 'C'}
D{'text': 'R. H. Patil', 'letter': 'D'}
Answer & Solution
Correct answer: C. {'text': 'R. N. Malhotra', 'letter': 'C'}
1. Insurance sector reforms followed the 1991 economic reforms.
2. In 1993 the Government set up a Committee on Reforms in the Insurance Sector.
3. It was headed by Shri R. N. Malhotra, retired Governor of the Reserve Bank of India.
_Source: IRDA Brochure (irdai.gov.in — official IRDAI publication) — "1993: Committee on Reforms in the Insurance Sector, headed by Shri R. N. Malhotra (Retired Governor, Reserve Bank of India)"_