Financial Awareness - Risk, Stability & Emerging Finance
The Verma Committee, constituted in 2005, is best known for its recommendations on:
The Verma Committee, constituted in 2005, is best known for its recommendations on:
medium Q5 of 15
Step-by-Step Solution
Step 1: Identify the purpose of the Verma Committee
The Verma Committee (2005) examined issues related to banking frauds and governance failures.Step 2: Eliminate unrelated areas
Customer service relates to Damodaran Committee; capital adequacy to Narasimham Committee II; monetary policy to Rangarajan and Urjit Patel Committees.Final Answer:
Banking fraud detection and governance → Option BQuick Check:
Verma Committee = banking fraud & governance reforms ✅
Quick Trick: Verma Committee (2005) = banking fraud & governance.
Common Mistakes:
- Confusing Verma Committee with customer service–related committees.
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