UPSC Prelims 2026 · GS Paper I
Question 98: Economy and Social Development
With reference to different Committees in India, consider the following details :
| Sl. No. | Committee | Objective | Organization under which it was formed |
|---|---|---|---|
| 1. | R.N. Malhotra Committee | Comprehensive reforms of Insurance sector in India | Insurance Regulatory and Development Authority of India |
| 2. | L.C. Gupta Committee | Preparing a roadmap for the introduction of derivatives trading in India | Securities and Exchange Board of India |
| 3. | Urjit R. Patel Committee | Preparing a roadmap for reforming bank lending to the Housing sector | Reserve Bank of India |
| 4. | Y.H. Malegam Committee | Preparing a roadmap for reforms in Microfinance sector in India | Reserve Bank of India |
In which of the above rows are all the details correctly matched ?
AnswerUPSC’s answer is (d).
The L.C. Gupta Committee (1998) prepared the roadmap for introducing derivatives trading, under SEBI, so row 2 is right. The Y.H. Malegam Committee (2011) looked at the microfinance sector for the RBI, so row 4 is right. The R.N. Malhotra Committee (1993) recommended insurance reforms, but it was set up by the Government of India before IRDAI existed, so row 1 is wrong. The Urjit Patel Committee dealt with the monetary policy framework, not housing finance, so row 3 is wrong.
- 1. The Malhotra Committee was formed by the Government of India, not by IRDAI.
- 2. The L.C. Gupta Committee was formed by SEBI on derivatives.
- 3. The Urjit Patel Committee looked at monetary policy, not housing credit.
- 4. The Malegam Committee was formed by the RBI on microfinance.
Why each option is right or wrong
- (a) Incomplete: row 4 is also correctly matched.
- (b) Wrong: row 3 is mismatched, as the Urjit Patel Committee dealt with monetary policy.
- (c) Wrong: rows 1 and 3 are wrongly matched.
- (d) Right: rows 2 and 4 are fully correct.
Only the provisional key (27 May 2026) was found; the final key replaces it when found.
Answer: UPSC’s key. Explanation: written by UPSC Grade, not by UPSC.
Source: UPSC, Civil Services (Preliminary) Examination 2026, General Studies Paper I, Series A. The paper on upsc.gov.in.