Financial Regulatory Committees

Rows 1, 2, and 4 are correctly matched. The R.N. Malhotra Committee (1994) recommended opening the insurance sector and establishing an independent regulator, which led to the creation of IRDAI. The L.C. Gupta Committee (1998) formulated the regulatory framework for financial derivatives under SEBI. The Y.H. Malegam Committee (2011) established the regulatory guidelines for the microfinance sector under the RBI. Row 3 is incorrectly matched because the Urjit Patel Committee (2014) focused on revising and strengthening the monetary policy framework (introducing inflation targeting), not housing sector lending.