Which committee was appointed to give a detailed report on the Non-Performing Assets of public sector banks?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Pannir Selvam Committee.
1. Pannir Selvam Committee Report submitted in 1998 on NPAs of public sector banks suggests Arbitration/Conciliation under the Arbitration Act 1996 as an effective tool.
2. The Pannir Selvam Committee has pointed out that the main reason for the growth of NPAs and slump in recoveries in banks in India is the antiquated legal system and the laws prevalent in the country.