List of important committees in India 2022:
The central and state Government set up various committees or panels to keep a check on the status of different schemes and policies every year for the welfare of its citizens. One or two questions is directly asked from important committees in India in every exam whether it is Bank, SSC or Railway. In this article we are providing you with a list of Important committees in India in 2022.
List of Important Committee (May, 2022)
|Supreme Court appointed high-level committee for recovery of money from NSEL defaulters||Pradeep Nandrajog||for recovery of money from the defaulters against whom National Spot Exchange (NSEL) has secured money decrees.
NSEL has already secured decrees and arbitration award of ₹3,534 crore against the defaulters. Further, defaulters’ liabilities of ₹760 crore have already been crystallised by the committee appointed by the Bombay High Court.
The Supreme Court-appointed committee will oversee sale of assets, attached by the Maharashtra government under the MPID Act and Enforcement Directorate across India.
|SEBI restructured 18-member Secondary Market Advisory Committee (SMAC)||Gurumoorthy Mahalingam||to make recommendations to the capital markets regulator on improving market safety, efficiency, and transparency.
The panel previously consisted of 17 members and was headed by SEBI chairperson Madhabi Puri Buch.
|SEBI constituted Advisory Committee for Environmental, Social and Governance (ESG) related matters in the securities market||Navneet Munot||The terms of reference of the committee include Enhancements in business responsibility and sustainability report, ESG ratings, and ESG investing.
It will examine evolving disclosures/metrics relevant to the Indian context and suggest areas for assurance and a plan for implementation.
|RBI constituted committee to review customer service standards at banks, NBFCs||B.P. Kanungo||The Reserve Bank of India (RBI) under the chairmanship of Former Deputy Governor B.P. Kanungo has constituted a committee to review Customer Service Standards in RBI Regulated Entities (REs) and for examining and reviewing the state of customer service in the REs and adequacy of customer service regulations.
The mandate of the committee is also to suggest measures to improve customer service. The Committee will submit its report within three months from the date of its first meeting.
|Reconstituted Inter-State Council||Prime Minister Narendra Modi||The Inter-State Council, which works to promote and support cooperative federalism in the country, has been reconstituted with Prime Minister Narendra Modi as chairman and chief ministers of all states, six Union ministers as members, and Ten Union Ministers as permanent invitees.|
|Standing Committee of the Inter-State Council||Amit Shah||Union Government also reconstituted the Standing Committee of the Inter-State Council with the Union Home Minister Amit Shah as its Chairman. The union ministers who were made members of the council are: Rajnath Singh, Amit Shah, Nirmala Sitharaman, Narendra Singh Tomar, Virendra Kumar, Hardeep Singh Puri.|
|Supreme Court appointed 3-member Committee of Administrators (CoA) to manage functioning of All India Football Federation (AIFF)||AR Dave||to oversee the affairs of the All India Football Federation and the adoption of its constitution in accordance with the National Sports Code and model guidelines.
The COA will include two previous members — Dr SY Qureshi, former Chief Election Commissioner, and Bhaskar Ganguly, former captain of the Indian Football Team, in addition to Retired Justice Dave, according to a bench of Justices DY Chandrachud, Surya Kant, and PS Narasimha.
|Uttarakhand formed 5-member drafting committee to implement Uniform Civil Code||Ranjana Desai||Other members of the committee are: Delhi High Court judge Pramod Kohli, ex-state chief secretaries Shatrughan Singh, Manu Gaud and Surekha Dangwal.
The UCC is referred to a common set of laws governing personal matters such as marriage, divorce, adoption, inheritance and succession for all citizens, irrespective of religion.
|IRDAI set up committees through GIC to suggest insurance sector overhaul||Insurance Regulatory and Development Authority of India (IRDAI) has formed various committees through the General Insurance Council (GIC) to overhaul the insurance sector.
The committees formed through GIC will suggest reforms in the various areas of general, reinsurance and life insurance.
These committees were set up after new IRDAI Chairman Debasish Panda held an interaction with insurance industry players in April 2022.
Around 5 committees have been formed to suggest the changes in the general insurance, and non-life insurance and 2 panels to explore the reinsurance segment. Loknath Kar, the former ex-legal head of ICICI Lombard and PwC (PricewaterhouseCoopers), was roped in to draft the reports.
List of Important Committee (April, 2022)
|SEBI formed panel to strengthen governance of stock exchanges||G Mahalingam||SEBI has constituted a six-member committee that will review and make recommendations for the strengthening of governance norms at market infrastructure institutions (MIIs) and stock exchanges.
The committee has been constituted after the alleged corporate lapses of governance at NSE were revealed. SEBI had revealed the existence of a ‘Himalayan yogi’ who had influenced the decisions that were taken by Chitra Ramkrishna, the ex-MD and CEO of the organization.
|MeitY set up 17-member committee to steer, guide semiconductor mission||Ashwini Vaishnaw||Ministry of Electronics and Information Technology announced the formation of a 17-member advisory committee to steer and guide the government’s Rs 76,000 crore semiconductor mission.
The Minister of Electronics and IT, Ashwini Vaishnaw, will be the chairperson of the Committee, with Rajeev Chandrashekhar, Minister of State, Ministry of Electronics and IT (MeitY), will be the Vice-Chairperson.
Niti Aayog member V K Saraswat, Principal scientific advisor to the government of India, and secretaries from the ministry of external affairs, departments of expenditure, economic affairs, and promotion of industry and internal trade, respectively will be members of the committee. The convenor will be Secretary of MeitY.
|Tamil Nadu formed a 13-member panel to frame the state education policy||D Murugesan||The government had made a promise of formulating a state education policy in the 2021-22 state Budget.
This panel will be headed by retired Delhi High Court Chief Justice D Murugesan. The other panel members include Viswanathan Anand, former chess world champion, and T M Krishna, a prominent Carnatic musician.
|Ministry of Information and Broadcasting constituted AVGC Promotion Task Force||Apoorva Chandra||An animation, visual effects, gaming, and comics (AVGC) promotion task group has been established by the Ministry of Information and Broadcasting.
The task force, which will be led by the I&B Secretary Apoorva Chandra, will produce its first action plan within 90 days. Industry, academics, and state governments are all represented.
The organisation will develop a national AVGC policy, recommend a national curriculum framework for graduation, post-graduate, and PhD courses in AVGC-related fields, and collaborate with academic institutions, vocational training centres, and industry to assist skilling programmes.
|SEBI formed 2 separate panels to review ownership norms of MFs sponsors and trustees||The Securities and Exchange Board of India (SEBI) has formed two expert groups to look into the responsibilities, qualifications, and functions of sponsors and trustees at asset management firms (AMCs).
SEBI stated that an alternative set of eligibility standards might be developed to allow new players who would otherwise be ineligible to function as a sponsor to do so.
A Balasubramanian, MD & CEO of Aditya Birla Sun Life AMC, will chair the working group on sponsors. Meanwhile, Manoj Vaish, Independent Trustee, Mirae MF, will chair the working group on MF trustees.
A sponsor, similar to a promoter, provides funds for the establishment of an AMC, whereas a trustee serves as a supervisor and is responsible for safeguarding the interests of investors.
|SC reconstituted expert committee for Delhi-Dehradun Economic Corridor Expressway project||Chandra Prakash Goyal||The Supreme Court of India has reconstituted the expert committee to monitor the compensatory afforestation and other mitigation measures for the Delhi-Dehradun Economic Corridor Expressway project.
The independent 12-member expert committee was formed by the National Green Tribunal (NGT) and was previously headed by Sukhbir Singh Sandhu Chief Secretary, Uttarakhand.
CP Goyal, Director-General of Forests in the Ministry of Environment, Forests and Climate Change will be the Chairperson of the reconstituted Committee. Chandra Prakash Goyal is currently appointed as the Director-General of Forests and Special Secretary to the Government of India, Ministry of Environment, Forest and Climate Change.
Apart from the new Chairperson, the Supreme Court has also included Anil Prakash Joshi (founder of Himalayan Environmental Studies and Conservation Organisation) and Vijay Dhamsana (environmentalist) as additional members in the committee.
|SEBI reconstituted its Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS)||Sunil Bajpai||The 7-member committee will be headed by Sunil Bajpai, former Principal Advisor (Information Technology) of the Telecom Regulatory Authority of India (TRAI).
The SEBI constituted the seven-member ALeRTS in December 2021 chaired by Madhabi Puri Buch, who is currently serving as the Chairperson of SEBI.
Members of ALeRTS:
1. Harini Balaji, Chief General Manager (CGM), Integrated Surveillance Department (ISD), SEBI (Member Secretary of ALeRTS)
2. Puneet Narang, Head of Corporate Banking Technology India, Deutsche Bank
3. Girish Keshav Palshikar, Principal Scientist, TCS Research and Innovation
4. Ratnakar Pandey, Senior Data Scientist, Amazon
5. Rohan Rao, Senior Data Scientist, H2O.ai
6. Subir Saha, Head of Compliance, ICICI Group
|SEBI reconstituted its Market Data Advisory Committee||M S Sahoo||SEBI has restructured the advisory committee on market data that recommends policy measures pertaining to areas like securities market data access and privacy.
The panel will now have 21 members. Nithin Kamath; Ranjit Pawar; Sreekanth Nadella; Suhas Tuljapurkar are also included in the committee.
List of Important Committee (March, 2022)
|High Level Ministerial Task Force to analyse the impact on India by sanctions against Russia||The sanctions target Russian banks, oil refineries, and military exports. Russia is the 26th largest trade partner of India, with exports in 2020-21 valued at $ 2.6 billion and imports at $ 5.4 billion.
The task force awaits the updated sanctions guidelines from the United States (US) Office of Foreign Assets Control (OFAC).
The task force comprises Secretaries and senior officials from Ministries and Departments such as External Affairs, Defence, Finance, Home, Commerce & Industry and Petroleum and Natural Gas.
List of Important Committee (February, 2022)
|SEBI restructured a High-Power Advisory Committee on Settlement Orders and Compounding of Offences||Jai Narayan Patel||The committee was earlier headed by Vijay C Daga, retired judge of the High Court of Bombay and now it will be chaired by Jai Narayan Patel, former chief justice of Calcutta High Court. The panel will work as per SEBI (Settlement Proceedings) Regulations, 2018.
SEBI has listed M S Sahoo, a former chairperson at Insolvency and Bankruptcy Board of India, and Poornima Advani, ex-chairperson of National Commission for Women, as new members of advisory committee. PK Malhotra, former law secretary in the Ministry of Law & Justice will continue as a member of the committee.
In January 2022, SEBI has amended the SEBI (Settlement Proceedings) Regulations, 2018, called the SEBI (Settlement Proceedings) (Amendment) Regulations, 2022 where an alleged wrongdoer can settle a pending case with the regulator without admission or denial of guilt by paying a settlement fee.
According to the amendment, the timeline for filing settlement applications has been reduced to 60 days from the current 180 days. Further, the period for submission of revised settlement terms form, after the Internal Committee (IC), has been rationalised to 15 days which will be from the date of the IC meeting. The current rule allows 10 days plus additional 20 days.
|SEBI restructured Advisory Committee on Investor Protection and Education Fund (IPEF)||G Mahalingam||It is an eight-member committee.
In 2013, the committee was established by the SEBI to find out ways and means to best utilize the investor protection and education fund. Earlier the committee was headed by Abraham Koshy, former professor of Indian Institute of Management, Ahmedabad (IIM-A), Gujarat.
The committee is mandated to recommend investor education and protection activities for utilization of the SEBI IPEF.
Members of Committee: Vijay Kumar Venkataraman, Mrin Agarwal, A Balasubramanian, M G Parameswaran, GP Garg, N Hariharan and Jayanta Jash.
|Ken-Betwa link Project Authority, and 20-member National Steering Committee||Pankaj Kumar||The Central Government has constituted a Special Purpose Vehicle (SPV) i.e., Ken-Betwa Link Project Authority (KBLPA) for the implementation of the Ken-Betwa interlinking of rivers (ILRs) project. The SPV will be headed by a CEO (Chief Executive Officer) of additional secretary rank.
It also formed a 20-member National Steering Committee (SC) which will monitor the implementation. The committee will be chaired by the Secretary (Currently- Pankaj Kumar), Ministry of Jal Shakti.
The river Betwa or Betravati which is also called river Vetrawati in Sanskrit one of the major river basins of Madhya Pradesh (MP). It is a tributary of the Yamuna. It rises in the Vindhya Range just north of Hoshangabad in MP and flows north-east through MP and Orchha to UP.
|Alternative Investment Policy Advisory Committee (AIPAC), reconstituted by SEBI||Nagavara Ramarao Narayana Murthy||The committee has now 20 members.
The committee advises SEBI on a range of issues that impact further development of the Alternative Investment Fund (AIF) industry, and startup ecosystem in India. It also advises SEBI on issues which need to be taken up with other regulators for development of the AIF.
It will advise SEBI on any hurdles that might hinder the development of the alternative investment industry under its purview.
Constituted by SEBI in 2015 with 22 members, the panel has submitted three reports on the AIF.
List of Important Committee (January, 2022)
|Energy Transition Advisory Committee (ETAC) set up by Ministry of Petroleum and Natural Gas||Tarun Kapoor||to Prepare Energy Transition Roadmap for India
The Government of India has been planning to come up with an energy transition roadmap for the oil and gas sector to enhance India’s efforts to achieve net-zero emissions by 2070.
The committee tasked to prepare a step-by-step plan for complete transitioning from fossil fuels to clean energy has been given 6 months (middle of 2022) time to prepare and submit the roadmap.
|SEBI reconstituted 20 members Market Data Advisory Committee (MDAC)||S Sahoo||to recommend policy measures in areas like securities market data access and privacy. The previous committee was headed by Madhabi Puri Buch, ex-whole-time member of SEBI.|
|Committee constituted by Ministry of Home Affairs to enquire security lapses during PM Punjab visit||Sudhir Kumar Saxena||It is a three-member committee and will be headed by Sudhir Kumar Saxena, Secretary (Security), Cabinet Secretariat It also comprises Balbir Singh, Joint Director, IB and S. Suresh, IG, SPG.|
|A high-level committee by Supreme Court to investigate PM’s security breach in Punjab||Indu Malhotra||The 5-member committee will look into the alleged security breach of Prime Minister’s Punjab visit on 5th January this year.
Other members of the panel include the Inspector General of the National Investigation Agency (NIA), the Director-General of Police of Chandigarh, the Registrar General of the Punjab and Haryana High Court and the Additional DGP (Security) of Punjab.
Three-judge bench headed by Chief Justice of India (CJI) Nuthalapati Venkata Ramana and comprising Justices Surya Kant and Hima Kohli, have passed the order for the same.
Six Task Forces set up by Department of Telecommunications to explore 6G development
Department of Telecommunications (DoT) of the Ministry of Communication formed a task force under the Technology Innovation Group (TIG) on 6G technology to explore technological innovations and various commercial uses.
Under the 6G TIG, the Six task forces will be set up to provide research and development support in the form of inputs.
|Task force on Multi-Platform for Next Generation Networks||Bhaskar Ramamurthy, Director, Indian Institute of Technology (IIT)-Chennai.|
|Task force on Spectrum Policy||Abhay Karandikar, Director, IIT-Kanpur|
|Task force on Multi-Disciplinary Innovative Solutions and Devices||Bharadwaj Amrutur, Director, Indian Institute of Science (Iisc) Bangalore.|
|Task force on Devices||Kiran Kumar Kuchi, Director, IIT-Hyderabad|
|Task Force Group for Financing Research And Development||Ashok Kumar Tiwari, Member (Technology), Digital Communications Commission (DCC)|
|Task force on international standards||NG Subramaniam, chairman of the Telecommunications Standards Development Society, India (TSDSI)|
List of Important Committee (November, 2021)
|SEBI formed IT Projects Advisory Committee (IT-PAC)||Abhay Karandikar||SEBI has formed the 7-member IT-PAC to provide guidance to upgrade the existing IT systems of SEBI and the solutions with the latest IT practices, techniques, tools and technologies.|
|SEBI reconstituted Technical Advisory Committee||Deepak Phatak||The reconstituted 7-member committee will recommend measures for changes and improvements in the market structure given the technological changes.|
|RBI’s panel on asset reconstruction companies (ARCs)||Sudarshan Sen||The RBI committee on ARC has submitted its report. It suggested that the scope of Section 5 of the SARFAESI Act be expanded to permit ARCs to acquire financial assets from all regulated entities.
It recommended all accounts above Rs 500 cr, two bank-approved external valuers and b/w Rs 100 – Rs 500 cr, one valuer should carry out a valuation to determine the liquidation value and fair market value.
|Technology Innovation Group on 6G formed by DoT||K Rajaraman||to take lead in the development of 6G Technology globally.
Technology Innovation Group is a 22-member group.
Aim: To create vision and objectives as well as develop a roadmap for research and development (R&D), pre-standardisation, development of applications and products, and action plans for 6G technology.
|Committee to determine RoDTEP rates for exports from SEZs, EOUs||Gopal Krishna Pillai||The Central Government has constituted a 3-member committee for determination of RoDTEP (Remission of Duties and Taxes on Exported Products) rates for AA (advance authorisation)/export-oriented units (EOUs)/ special economic zones (SEZs) exports as these sectors were left out in the earlier exercise.
Other members: Y G Parande, Gautam Ray.
|Working Group on Digital Lending||Jayant K Dash||The Working Group on Digital Lending including Lending through Online Platforms and Mobile Apps, which was constituted by the Reserve Bank of India (RBI), has submitted its report.
In the near term, the WG suggested setting up a nodal agency in consultation with stakeholders to verify the technological credentials of the Digital Lending Apps (DLAs) of the balance sheet lenders and Lending Service Providers (LSPs) operating in the digital lending ecosystem.
|‘Central Vista Oversight Committee’||Ratan P Watal||for 2 years to monitor and expedite the pace of the project.
It includes P K Tiwari, Shailendar Roy, Professor Mausam and member and a Joint Secretary MoHUA as the convener.
The committee will ensure a multi-agency, multi-stakeholder coordination for seamless integration of different project works.
List of Important Committee (October, 2021)
|IFSCA’s Expert panel on Sustainable Finance||C.K. Mishra||Expert Committee to recommend an approach towards the development of the Sustainable Finance Hub at IFSC.
The committee consists of a total of 10 members including the chairperson and the member secretary.
|SEBI’s 4-Member Advisory Committee on Settlement Orders and compounding of offences||Vijay C Daga||The committee will work as per the SEBI (Settlement Proceedings) Regulations, 2018.
As the entities are currently provided with a window of 180 days to apply for settlement after receipt of the show-cause notice, the applicants mostly apply for settlement at the end of that 180 days.
To overcome such delays, the time limit for filing settlement applications was recommended to be reduced from 180 to 60 days.
|Working Group Constituted to overhaul Pradhan Mantri Fasal Bima Yojana (PMFBY)||Ritesh Chauhan||The Central Government has constituted a Working Group (WG) to be headed by CEO of PMFBY, currently Ritesh Chauhan to roll out an overhauled Pradhan Mantri Fasal Bima Yojana (PMFBY) from Kharif 2022.
The group will submit its report in six months.
|Expert Group by government on Tobacco Tax Policy||Vikas Sheel||Ministry of Health and Family Welfare (MoHFW) has set up an expert group headed by Vikas Sheel, additional secretary in MoHFW to develop a comprehensive tax policy for all tobacco products.|
|National Steering Committee for NIPUN Bharat Mission||Dharmendra Pradhan||Department of School Education and Literacy has constituted National Steering Committee (NSC) for implementation of the NIPUN Bharat Mission.
Aim: To achieve the goal of universal proficiency in foundational literacy and numeracy for every child by end of Class 3 by 2026-27.
Chairperson: Dharmendra Pradhan.
Vice Chairperson: Annpurna Devi
|Empowered Group of Secretaries (EGOS) set up to review and monitor the implementation of the PM GatiShakti NMP||Rajiv Gauba||to review and monitor the implementation of the PM GatiShakti NMP and to ensure logistics efficiency.
PM Modi launched PM Gati Shakti NMP on 13th October 2021.
|SC’s committee to Probe unauthorized surveillance using Pegasus in India||R V Raveendran||Supreme Court has appointed three-member committee to look into allegations of unauthorized surveillance using Pegasus, a spyware developed by Israeli firm NSO Group.
Committee members: Naveen Kumar Chaudhary, Prabaharan P, Ashwin Anil Gumaste.
|7 Member Economic Advisory Council to the PM||Bibek Debroy||Prime Minister Narendra Modi has approved to reconstitute the 7-member Economic Advisory Council to the Prime Minister (EAC-PM) following the end of its tenure in September 2021.
The EAC-PM has been reconstituted for a period of two years or until further orders.
Other part-time members: Sajid Chenoy, Neelkanth Mishra, Nilesh Shah
List of Important Committee (September, 2021)
|Scrutinize applications and give recommendations on New Umbrella Entity (NUE) licenses||P. Vasudevan||The Reserve Bank of India (RBI) has set up a committee to scrutinize applications and give recommendations on New Umbrella Entity (NUE) licenses. The 5-member committee will be headed by Shri. P. Vasudevan.
The committee’s recommendations will be taken into consideration before doling out the licences. NUEs will establish their own payment infrastructure to compete with the National Payments Corp. of India (NPCI). The government hopes to build a settlement system similar to the unified payments interface (UPI) with the NUEs.
The system will be focused on small and medium enterprises, merchants and consumers. The RBI had in August 2020 issued guidelines for creating “for-profit NUEs”.
|Panel for framing a new law for drugs, cosmetics and medical devices||V G Somani||The government has constituted an eight-member panel for framing a new law for drugs, cosmetics and medical devices. The panel is being headed by Drugs Controller General of India (DCGI) Dr V G Somani.
The Drugs and Cosmetics Act, 1940, regulates the import, manufacture, distribution and sale of drugs, cosmetics and medical devices. This Act is amended from time to time. The last amendment in the Act was made in 2008.
|Education ministry’s panel to develop new curriculum for schools||K Kasturirangan||The Union education ministry on 21 Sept formed a 12-member committee to develop new curriculums for school, early childhood, teacher and adult education. The panel tasked with developing four national curriculum frameworks (NCFs) will be headed by National Education Policy-2020 (NEP-2020) drafting committee chairperson K Kasturirangan.
The committee will discuss “position papers” finalised by national focus groups on different aspects of the four areas drawing inputs from state curriculum frameworks.
The NCFs serve as a guideline for syllabus, textbook and teaching practices for schools in India.
|High-Level Expert Committee, for a comprehensive review of the National Cadet Corps (NCC)||Baijayant Panda||The Ministry of Defence has constituted a High-Level Expert Committee, for a comprehensive review of the National Cadet Corps (NCC).
The 15-member committee will also include Cricketer MS Dhoni and Mahindra Group Chairman Anand Mahindra as members.
Suggest measures to empower NCC cadets to contribute more effectively towards nation building, Propose ways for gainful engagement of NCC Alumni for the betterment of the organisation.
List of Important Committee (June, 2021)
|Variable Capital Company||K.P. Krishnan||Dr. K.P. Krishnan committee on “Variable Capital Company” has submitted its report to International Financial Services centres Authority (IFSCA) regarding feasibility of Variable Capital Companies in International Financial Services Centres in India.|
|Four-member Takeover Panel by SEBI||N. K. Sodhi||SEBI has reconstituted its four-member Takeover Panel Under the chairmanship Former Justice N. K. Sodhi, which looks into the applications that seek exemption from the mandatory open offer that an acquirer needs to make to minority shareholders.
Members of the Panel are:
|High-level committee for consultations on theatre commands||Recently, a high-level committee has been formed for the consultations on the creation of integrated triservice theatre commands. The committee will examine all issues and find a way forward before a formal note on their creation is sent to the Cabinet Committee on Security.
The Shekatkar committee (in 2015) had recommended the creation of 3 integrated theatre commands — northern for the China border, western for the Pakistan border, and southern for the maritime role.
List of Important Committee (May, 2021)
|Advisory group to assist the second Regulatory Review Authority (RRA 2.0)||S Janakiraman||The committee will assist the authority to identify areas, guidelines, regulations and returns. It will submit reports periodically to RRA that will provide suggestions and recommendations.
RRA 2.0 was established in April 2021. The authority is to function for a period of one year. It will review the regulatory prescription internally. Also, it will examine and suggest changes required in the dissemination process of RBI instructions and circulars.
|IFSCA’s expert committee on Investment Funds||Nilesh Shah||The International Financial Services Centres Authority, IFSCA has constituted an expert committee on Investment Funds.
The Committee under the Chairmanship of Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Co. Ltd, will recommend the road map for the funds industry in the International Financial Service Centres, IFSCs. The Committee comprises leaders from the Fund Management sector.
List of Important Committee (April, 2021)
|Regulations Review Authority (RRA 2.0)||M Rajeshwar Rao||The Reserve Bank of India (RBI) will set up a new Regulations Review Authority (RRA 2.0) from May 1, 2021, to review the regulations, circulars, reporting systems and compliance procedures of the central bank for streamlining them and making them more effective. The RRA will be set up for a period of one year unless the timeline is extended by the RBI.|
|Asset Reconstruction Companies (ARC)||Sudarshan Sen||The Reserve Bank of India recently set up a committee to study about the Asset Reconstruction Companies (ARC) in the country. The committee will evaluate the role of ARCs in debt resolution and will review their business model.
The Committee will also review the role of ARC in stressed asset resolution under the IBC (Insolvency and Bankruptcy Code).
|Panel to Evaluate Bank Applications||Shyamala Gopinath||The Reserve Bank of India (RBI) has set up a “standing external advisory committee (SEAC)” on March 23, 2021. This panel will evaluate the applications for the universal banks and small finance banks (SFBs).
This committee comprises of five members.
|Expert Committee on Urban co-op Banks by RBI||N. S. Vishwanathan||The committee is being set in accordance with the provisions of the Banking Regulation (Amendment) Act, 2020. The act became applicable to the Primary or the Urban Co-operative Banks (UCBs) from June 26, 2020.|
|Task force on river-linking||Sriram Vedire||The task force on Interlinking of Rivers has approved the Mahanadi-Godavari Link on February 25, 2021.
The linking project was approved by ensuring the utilisation of allocated Godavari waters by the states of Telangana and Andhra Pradesh.
| COVID-19 vaccine administration
|RS Sharma||The empowered committee is a 10-member team comprising of some senior officials from the Ministry of Health and Family Welfare (MoH&FW) and the Unique Identification Authority of India.|
|Panel to work out CET||R P Tiwari
|The new NEP, released in July 2020, advocates reducing the number of entrance tests.|
|digital lending as frauds come into sharp focus||Ayant Kumar Dash||The group will suggest steps to regulate digital lending including online lending platform and mobile lending.|
Committee (Nov 2020)
|Committee to review the guidelines on television rating agencies in India||Prasar Bharati CEO to Head Shashi S. Vempati||to submit its report to the information and broadcasting minister within two months.|
|large NBFCs into banks||P K Mohanty||has recommended the guarded entry of corporates into the banking space, conversion of big NBFCs into banks and hike in promoters’ stake to 26% from 15%. The group also proposed a hike in minimum capital for new banks from Rs 500 crore to Rs 1,000 crore.|
|Capital Goods (CG) Sector through interventions that help the CG Sector||Aurn Goel
|contributing more actively in the national goal of achieving a $5 trillion economy and a $1 trillion manufacturing sector.|
Committee (October 2020)
|All India Council for Technical Education (AICTE)||M.S. Ananth||The committee will function under the chairmanship of M.S. Ananth, former director, IIT Mardas. Mr. Somaprasad had pointed out that though there were 10,396 engineering institutes in India approved by the AICTE at present, only few were imparting quality education.|
|Prevent stubble burning
|Retired apex court judge Justice Madan B Lokur||One-man committee to take steps for preventing stubble burning in Punjab, Haryana and Uttar Pradesh which is a source of pollution in Delhi-national capital region (NCR).|
|Recommending Policy on Market Data Access||by Madhabi Puri Buch||Recommend appropriate policy for access to securities market data, identify segment wise data perimeters, data needs and gaps, recommend data privacy and data access regulations applicable to market data.|
|400th birth anniversary of Shri Guru Tegh Bahadur||PM Modi||The committee will look into the approval of policies, plans, programmes and supervision and guiding the commemoration, as well as for deciding dates for detailed programmes of celebration.|
♦Committee (September 2020)
|Government gives one-year extension to Company Law Committee||Rajesh Verma||Functioning of the National Company Law Tribunal (NCLT) and make recommendations on various issues pertaining to implementation of the Companies Act as well as the Limited Liability Partnership Act.|
|National Cyber Security Coordinator to study the revelations in China Watching||Rajesh Pant||The expert committee, led by Lt Gen (retd) Rajesh Pant, India’s chief coordinator on cyber security, will evaluate the “implications” of the digital surveillance by Data Information Technology Co. Limited and “assess any violations of law and submit its recommendations within thirty days.”|
|Assessment of relief to bank borrower||Former CAG Rajiv Mehrishi||Will measure the impact on the national economy and financial stability of waiving of interest and COVID-19 related moratorium.
It will also give suggestions to mitigate financial constraints of various sections of society in this respect and measures to be adopted in this regard.
|NITI Aayog preparing Multidimensional Poverty index||Ms Sanyukta Samaddar
|“Global Indices to Drive Reforms and Growth (GIRG)” exercise is to fulfil the need to measure and monitor India’s performance on various important social and economic parameters and enable the utilisation of these Indices as tools for self-improvement, bring about reforms in policies, while improving last-mile implementation of government schemes.|
♦Committee (August 2020)
|Setting Parameters for Loan Restructuring
|KV Kamath||RBI on the required financial parameters, along with the sector specific benchmark ranges for such parameters, to be factored into resolution plans. The expert committee will also undertake a process validation of resolution plans for borrowal accounts above a specified threshold.”|
|Plan to develop international retail business||Pradip Shah||Centres Authority (IFSCA) set up a panel of industry experts to formulate a plan to develop international retail business at the International Financial Services Centre (IFSC).
The committee will be chaired by Pradip Shah, chairman at Indasia Fund Advisors.
Purpose: The expert committee was also tasked with strategising to make the IFSC attractive for international financial services and to draw up a roadmap for the growth of international retail at the centre.
|Fix ceiling rates under duty reimbursement scheme for exporters||Chaired by Secretary (retd) G K Pillai.||The reimbursement of taxes under the Remission of Duties and Taxes on Export Products (RoDTEP) such as duty on power charges, VAT on fuel in transportation, farm sector, captive power generation, mandi tax, stamp duty and central excise duty on fuel used in transportation would make Indian products competitive in global markets.|
|Kozhikode plane crash||Captain S S Chahar||The Aircraft Accident Investigation Board (AAIB) said it has formed a five-member panel to inquire into the circumstances of a plane crash in Kerala’s Kozhikode airport.|
|Sugarcane Prices to Sugar Rate
|Ramesh Chand||Niti Aayog Member(Agriculture), “Sugarcane and Sugar Industry” recommended linking of Sugarcane prices to sugar rate to maintain the financial state and stability of the industry and to clear the arrears of the sugarcane farmers.|
|Dividend of ₹57,128 crore to government.
|Shaktikanta Das||Reserve Bank of India on 13th August approved dividend of ₹57,128 crore to government.
The decision was taken when the Central Board of the RBI met on 13th August under the chairmanship of Governor Shaktikanta Das through video conference
|Business Responsibility Reporting (BRR)
|Rajesh Verma||The Corporate Affairs Ministry (MCA) will work closely with capital markets regulator SEBI for implementation of the ‘Business Responsibility and Sustainability Report (BRSR)’ framework in the country.|
♦Committee (July 2020)
|Violation of environment rules.||Anil Kumar Jha||The panel appraises projects that are commissioned without obtaining prior environmental clearance and have been termed as cases of violation. The panel was earlier constituted in June 2017 for three years. Its tenure has now been extended till June 2021.|
|Analysis of QR (Quick Response) Code’||Prof. Deepak.B. Phatak||The report has recommended making QR codes more interoperable. QR code is used to pay utility bills, fuel, grocery, food, travel, and several other categories.|
|National Financial Reporting Authority||Professor R. Narayanaswamy||The members of the committee will support and provide insights to the Executive body of the NFRA on the issues related to the drafts of the accounting and auditing standards. The committee will also provide the inputs from the perspectives of the users, preparers and auditors of the financial statements.|
|Sebi rejigs advisory||Usha Thorat||The Securities and Exchange Board of India (Sebi) has revamped its committee that advises the capital markets regulator on matters related to regulation and development of mutual fund industry.
Note: Earlier in 2013, the panel had 15 members and was headed by Janki Ballabh, former Chairman of SBI.
|‘Pandemic Risk Pool’||Suresh Mathur||“The Covid-19 pandemic, which started as a public health crisis, has led to a significant disruption in the economic activity mainly due to measures taken to stop the spread of the disease,” TL Alamelu, Member, Non-Life, Irdai, said in an order.|
|Human rights and future response of the government.||K S Reddy||The expert committee would assess the impact of Covid-19 on human rights of people, especially marginalised and vulnerable sections of the society, including migrant labourers.|
|Find space for selling Surety Bonds||G. Srinivasan.
|The IRDAI has set up the committee after the Ministry of Road Transport and Highways requested it to examine the possibility of offering Surety Bond for contractors.|
|National level committee for reform in criminal law||Ranbir Singh||The committee, which has several leading legal academicians on board, would be gathering opinions online, consulting with experts and collating material for their report to the government.|
♦Committee (June 2020)
|IBBI advisory committee on service providers
|T V Mohandas Pai||The 12-member panel would advise and provide professional support on regulation and development of the service providers dealt with by the IBBI , according to an order.
The service providers include insolvency professionals, insolvency professionals agencies, insolvency professional entities and information utilities.
|MSME loan scheme implementation
|Defence Minister Rajnath Singh||To resolve any problem in the implementation of the Rs 3 lakh crore collateral-free loan scheme for MSMEs.|
|Welfare of freedom fighters||G Kishan Reddy||The ministry has a separate division to serve freedom fighters who are alive and their families. It disburses pension to about 30,000 freedom fighters and their families.|
|Review private bank shareholding norms||RBI executive director PK Mohanty||The group will examine the existing licensing guidelines and regulations on ownership and control of private sector banks.|
|Trustees of PM CARES||Sunil Kumar Gupta||Trustees of the PM CARES Fund have appointed SARC & Associates as auditor of the fund.|
|IBBI reconstitutes advisory panel on corporate insolvency resolution process
|Uday Kotak||This Advisory Committee will advise and provide professional support— on a request from the IBBI or on its own volition—on any matter relating to the Corporate Insolvency resolution and liquidation dealt with by the Board under the Insolvency and Bankruptcy Code 2016.|
|Sebi panel suggests measures to strengthen enforcement, recovery mechanism
|headed by former Supreme Court Judge Anil Dave||Purpose: The committee has examined the insolvency, recovery and securities laws jurisprudence of India and abroad and suggested suitable changes in the Insolvency and Bankruptcy Code to ensure that insolvency law is not used as a refuge by defaulters, thereby protecting the interest of investors.
|Assam Gas Leak||Justice BP Katakey||The National Green Tribunal has imposed an interim penalty of Rs 25 crore on PSU major Oil India over its failure to stop fire in Assam’s Baghjan oil well resulting in damage to the environment.|
♦Committee (May 2020)
|Reforms in India’s drug regulatory system||Rajesh Bhushan||A high-level committee of experts has been formed by the government to recommend reforms in India’s drug regulatory system so that approval processes can be fast-tracked.|
|Banning on the use of saliva to shine the ball||Anil Kumble||The International Cricket Council’s (ICC) Cricket Committee has recommended banning on the use of saliva to shine the ball. The practice meant for swing bowling is now primarily held as health risk due to the threats of COVID-19 and protect the safety of players and match officials.|
|Border Infrastructure||Lt General D B Shekatkar (Retd)||These were related to speeding up road construction, leading to socio economic development in the border areas.|
|Vizag gas leak||Neerabh Kumar Prasad||The Andhra Pradesh government on 16th may constituted a five-member High-Power Committee to probe into the causes behind the leakage of styrene gas from the LG Polymer plant at RR Venkatapuram in Visakhapatnam.|
|4G internet services in J&K||Ministry of Home Affairs||SC A bench comprising Justices N V Ramana, Justices R Subhash Reddy and B R Gavai said the committee would also include the Chief Secretary of the UT and the Secretary of Ministry of Communications to look into the demands by petitioners seeking restoration of 4G internet speed there.|
|Parliament’s Public Accounts Committee
|Adhir Ranjan Chowdhury||Members of the public accounts committee are elected every year. The 22-member panel includes 15 members from the Lok Sabha and seven from the Rajya Sabha.
Works: The PAC examines accounts showing the appropriation of sums granted by Parliament for the expenditure of the Government of India, the annual financial accounts of the Government, and others.
|Examine the comments received on the consultation paper floated||The Ministry of Corporate Affairs (MCA) has constituted a seven-member committee to examine the comments received on the consultation paper floated by it for enhancing audit independence and accountability in the country.||Purpose: The committee will examine the comments and make recommendations requiring any amendments in law, rules and standards to achieve the objective of enhancement of audit independence and accountability. The panel has been asked to submit its report by 30 June 2020.|
|Reconstitutes National Shipping Board||headed by ex-DG Shipping Malini Shankar
|The government has approved reconstitution of the National Shipping Board to be headed by former Director General of Shipping Malini Shankar, an official said. The National Shipping Board (NSB) is the highest advisory body on matters related to Indian shipping including the development there of and on such other matters arising out of the Merchant Shipping Act.
The shipping ministry has approved reconstitution of the 16-member NSB, which will be headed by former Director General of Shipping Malini Shankar, as per a communication from the ministry to the DG Shipping.
♦Committee (March 2020)
|Delimitation Commission set up for J&K, Assam, Arunachal Pradesh, Manipur, Nagaland
|Former Supreme Court judge, Justice (retd.) Ranjana Prakash Desai||The Central Government has set up a Delimitation Commission for the purpose of delimitation of Assembly and the Parliamentary constituencies Union Territories of Jammu and Kashmir and the States of Assam , Arunachal Pradesh, Manipur and Nagaland.|
|15th Finance to Commission review fiscal consolidation road map of the both state and central
|N. K. Singh||The Fifteenth Finance Commission (15th FC) will monitor the situation in India in the wake of coronavirus pandemic and also the country’s response to it, as part of its deliberations ahead of the recommendations for 2020-21 (FY21) to 2025-26 (FY26).
The Commission’s Chairman N K Singh said on 19th March that some aspects that will need to be examined include health-sector specific needs, the larger impact on the economy of the Centre and states, and disaster relief funds.
|IRDAI sets up panel on governance at insurers||Pravin Kutumbe
|The country’s insurance regulator has set up a 16-member committee to find ways to improve corporate governance systems of insurers, primarily on making key functions such as risk management and internal audits independent of each other.
The committee will be headed by Pravin Kutumbe, member-finance and investment at IRDAI and has six other members from the insurance regulator besides members from the Reserve Bank of India and the Securities and Exchange Board of India along with other industry participants. It has been asked to submit the report to IRDAI in three months.
|Municipal bonds development||Sujit Prasad||Committee which will suggest on policy matters pertaining to development of municipal debt securities and facilitate municipalities for issuance of such bonds.
The panel will advise Sebi on issues related to regulation and development of primary and secondary market of municipal debt securities.
|15th Finance commission to boost agri exports
|Sanjiv Puri||The panel will recommend measurable performance incentives for States to encourage agri exports as well as to promote crops to enable high import substitution, the Finance Commission|
|High-level committee on Assam Accord’s Clause||Retired Justice Biplab Sharma||A high-level committee on Assam Accord’s Clause 6 on 25th February submitted its report to Assam Chief Minister Sarbananda Sonowal in Guwahati.
The committee, headed by retired Justice Biplab Sharma, gave recommendations and measures to implement the Clause 6 of the Assam Accord.
Now, the Assam government will send the report to the Ministry of Home Affairs (MHA) for the follow-up action.
|Committee to draft the National Water Policy||Dr Mihir Shah||The committee established by the Ministry of Water Resources, River Development and Ganga Rejuvenation, Government of India will outline the new National Water Policy (NWP) for the country.
The committee, comprising of 11 members including Dr Shah, will draft the National Water Policy (NWP) and will
|Road safety committee||Retired judges, Justice Abhay Manohar Sapre||The Supreme Court on 16th January said it would appoint one of its retired judges, Justice Abhay Manohar Sapre, as the chairman of its committee on road safety after the panel’s current head — former apex court judge Justice K S P Radhakrishnan — expressed difficulty in continuing in that position.
The bench has posted the matter for further hearing in July.
|Draft mediation law||Niranjan Bhat||The Supreme Court has, through a unique step, set up a panel to firm up a draft legislation to give legal sanctity to disputes settled through mediation, which would then be sent to the government as a suggestion from the apex court.
The panel, to be headed by mediator Niranjan Bhat, will recommend a code of conduct for mediators, who are legal experts. On January 12, the committee met in Hyderabad to consider suggestions for a legislation put forth by mediators from all over India.
The mediators emphasised on confidentiality, the voluntary nature of the process, neutrality, avoiding conflicts of interest, enforceability of settlement etc.
|Expert panel to examine non-personal data regulation||Infosys co-founder Kris Gopalakrishnan||Ministry of Electronics and Information Technology (Meity) has framed an 8-membered high-level panel headed by Infosys co-founder Kris Gopalakrishnan to study issues related to non-personal data and suggest the ways to regulate non-personal data.
|Set up of a federal body like GST council for the agriculture sector||Mahesh Kumar Jain||The RBI (Reserve Bank of India) panel has suggested creating an institution like the GST (Goods and Services Tax ) Council to implement reforms in the agricultural sector. It was also recommended to transfer subsidy directly to the account and avoid debt waiver.
i. The panel stated that subsidy on interest subvention or agricultural credit should be converted into direct benefit transfer (DBT) like LPG (Liquefied petroleum gas) and fertilizer with an overall limit of Rs 3 lakh per individual farmer through Kisan Credit Card (KCC) mode.
ii. Banks should increase credit supply for agricultural activities and give consumption loans to farmers up to Rs 1 lakh
|IBA’s Managing Committee||Karnataka Bank MD & CEO MS Mahabaleshwara||The Managing Director (MD) and Chief Executive Officer (CEO) of Karnataka Bank, M S Mahabaleshwara was included in the Managing Committee of Indian Banks Association (IBA). He was elected unopposed from the private sector member banks category.
|Development of housing finance securitisation market||Harsh Vardhan||The panel headed by Harsh Vardhan, senior advisor, Bain and Co., for the development of housing finance securitisation market has submitted its report to the governor of the Reserve Bank of India (RBI) Shaktikanta Das.
i. The panel suggested that the National Housing Bank (NHB) should create an intermediary for standard-setting and market-making for the instruments. Intermediary could operate either directly through the NHB, the Indian Mortgage Guarantee Corporation (IMGC), or the RBI could set up a new organisation.
ii. The new entity would have 51% ownership by the government through the NHB initially. The government ownership in the entity would then be gradually reduced to 26% over a period of 5 years. The remaining capital of 49% may be initially raised from multilateral agencies. It will start with Rs 500 crore of initial capital and it would be allowed to invest in each pool it securitizes to the extent of 5% of the pool, or 5% of its own capital base,
|Assets, liabilities of J&K||Defence Secretary Sanjay Mitra||Centre has appointed defence Secretary Shri Sanjay Mitra to head a 3-member panel to look into assets, liabilities of Jammu and Kashmir(J&K) between two successor Union territories(UT) J&K and Ladakh, that comes into effect on October 31, 2019.
Background: The centre, announced the withdrawal of the special status granted to Jammu and Kashmir under Article 370 of the Constitution and bifurcation of the state into two UTs on August 5, 2019.
|Action against mob lynching/ mob violence||Amit Shah||Union home minister & BJP( Bharatiya Janata Party ) President, Amit Shah will now head a 4-member panel of ministers, which was created in 2018 to propose action against mob lynching. T|
|RBI’s Task Force on Offshore Rupee Markets||Usha Thorat||The Task Force formed by the Reserve Bank of India (RBI) on Offshore Rupee Markets headed by Usha Thorat has recommended the extension of onshore market hours to 9 am to 9 pm, from 9 am to 5 pm, to improve access of overseas users and allow Indian banks to freely offer prices to global clients around the clock|
|Economic Capital Frame Work||Bimal Jalan|
|Elephant Bond||Surjit Bhalla|
|ATM Interchange Free Structure||VG Kannan|
|Currency Movement||DK Mohanty|
|LPG Marketing||Kirit Parrikh|
|Frauds Detection in Ayushman Bharat by IRADIA & NHA||Dinesh Arors|
|GOFM of States for GST Panel||Sushil Kumar Modi|
|Goroup of CMs for Doubling Farmers Income||Devendra Fadnavis|
|Help ease stress in telecom sector||Rajiv Gauba||The government has set up a committee of secretaries (CoS) under Cabinet Secretary Rajiv Gauba to suggest measures to mitigate the financial stress in the telecom sector, which is looking at a payout of Rs 1.33 trillion to clear statutory dues.
it will consider issues such as deferment of spectrum auction for two years and reduction in spectrum usage charges, and take a relook at the Universal Service Obligation Fund (USOF) charges.
|Easier entry to foreign investors||Surjit Bhalla||A high-level advisory group (HLAG) on trade and policy has recommended simpler regulatory and tax framework for overseas investment funds, allowing individual investment from abroad in Indian debt and capital markets, and state-specific policies to facilitate foreign direct investment in agro-processing.|
|Chairman of the estimates committee||Pune Lok Sabha member& BJP MP, Girish Bapat|
|Women Help Desks, More Anti-human Trafficking Units to be Set Up Using Nirbhaya Fund||Empowered Committee (EC) under Nirbhaya framework, chaired by WCD Secretary Rabindra Panwar||Women and Child Development Minister Smriti Irani said that women help desks will be set up in police stations across the country and more anti-human trafficking units established in all districts using the Nirbhaya fund.|
|Tighter Rules For Core Investment Companies||Tapan Ray
|The committee suggested that:
Capital contribution by a CIC in a step-down CIC, over and above 10 percent of its owned funds, should be deducted from its ‘adjusted net worth’. Further, step-down CICs may not be permitted to invest in any other CIC, but allowed to invest freely in other group companies. Existing entities can be given a two-year glide path to comply with the rules.
The number of layers of CICs in a group should not exceed two, as in case of other companies under the Companies Act. Again, a two-year glide path has been suggested for existing firms.
|Draft new water policy||Mihir Shah||It will be chaired by Mihir Shah, who is a former Planning Commission member and a water expert. The committee has 10 principal members, including Shashi Shekhar, a former secretary of Water Resources, and A.B. Pandya, former chairman of the Central Ground Water Board. The committee is expected to produce a report within six months.|
|Sports Ministry to review the controversial Draft National Sports Code 2017.||Supreme Court judge Justice (Retd) Mukundakam Sharma as its chairman.||Olympic bronze-medallist shooter Gagan Narang, former football captain Baichung Bhutia and national badminton coach Pullela Gopichand have been named in a 13-member expert committee formed by the Sports Ministry to review the controversial Draft National Sports Code 2017.
The expert committee will be headed by Supreme Court judge Justice (Retd) Mukundakam Sharma as its chairman.
“The committee will try to strike a balance between autonomy of NSFs vis-a-vis need for transparency and autonomy.
|Parliament’s meeting of Consultative Committee||Rajnath Singh||Defence Minister Rajnath Singh chaired a meeting of the Consultative Committee of Parliament for the Ministry of Defence in New Delhi.
The subject of the meeting was Border Roads Organisation, BRO. Director General BRO Lt Gen Harpal Singh gave a detailed presentation on the working of the organisation, especially on maintaining operational road infrastructure for the armed forces in border areas.
|15th Finance Commission submits its report for 2020-21||N K Singh
|The Finance Commission submitted its report for the financial year 2020-21 to President Ram Nath Kovind on 5th December. The Commission headed by N K Singh apprised the President of the recommendations contained therein.
The 15th Finance Commission was constituted by the President of India under Article 280 of the Constitution on November 27, 2017, to make recommendations for a period of five years from April 2020 to March 2025.
|Rajya Sabha forms informal group to study issues related to pornographic content on Internet, social media||Jairam Ramesh||Rajya Sabha Chairman Venkaiah Naidu on 5th December announced the formation of a 14-member informal group to study issues related to pornographic content on the Internet and social media platforms.
Congress leader Jairam Ramesh will co-ordinate the group which will submit its report within a month.