ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Tale of Many Committees

Rural Banking and Credit

A critical review of the recommendations of four committees having a bearing on rural banking and credit.

Immediately after assuming office, the new governor of the Reserve Bank of India (RBI) had set up a one-member High Level Committee on Agricultural Credit through Commercial Banks with R V Gupta (henceforth RVGC).1 This was a clear signal to reemphasise agricultural and, more broadly, rural credit which were otherwise to some extent neglected in the post 1990 period. Earlier, the ministry of finance had constituted a committee in December 1997 under the chairmanship of M Narasimham (henceforth NCR II)2 to:

(i) review the progress in the banking sector with particular reference to the recommendations made by the earlier Narasimham Committee report (NCR I)3 in 1991,

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