Question

Q. Which of the following committees recommended the establishment of a Payment Bank in India?

• A. AK Bhuchar Committee
• B. Nachiket Mor Committee
• C. Urjit Patel Committee
• D. Vaghul Committee

Answer 1

The correct option is B Nachiket Mor Committee

Explanation:

The Committee on Comprehensive Financial Services for Small Business and Low-Income Households, headed by Nachiket Mor, was formed in September 2013 by the RBI. The committee submitted its final recommendation on January 7th, 2014 which elaborated upon the formation of a new type of bank called a payment bank.