The concept of 'universal banking' was implemented in India on the recommendations of _________________.

Abid Hussain Committee

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RH Khan Committee

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S Padmanabhan Committee

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YH Malegam Committee

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Solution

The correct option is A RH Khan Committee
Universal Banking means that Financial Institutions (FIs) and Banks are allowed to undertake all kinds of activity of banking, financing and related
The concept of Universal Banking was conceptualized in India after the RH Khan Committee recommended it as a different concept. The Khan Working Group held the view that DFIs (Development Finance Institutions) should be allowed to become banks at the earliest.

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