Important Committees and Panels in News 2018

Hello and welcome to exampundit. Today we are sharing the most Important Committees and Panels in News 2018 list. This list covers all RBI, Finance, Banking, India related Important Committees and Panels in News 2018.

These committees and panels were either in News or recently formed or suggested something to the government.

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Financial and Banking related Important Committees and Panels in News 2018


Y.M. Deosthalee Committee on Public Credit Registry

The Reserve Bank of India (RBI) on June 6, 2018 announced to set up a Public Credit Registry, an information repository that has all loan information of individuals and corporate borrowers.

The repository will be set up in a modular and phased manner. Moreover, RBI will be setting up an implementation task force to undertake the logistics for setting up of the credit repository.


Uday Kotak Committee on Corporate Governance

The Securities and Exchanges Board of India (SEBI) on March 28, 2018 accepted 40 out of 80 recommendations suggested by the Uday Kotak Committee on Corporate Governance.

One of the major recommendations of the committee was to separate the post of CEO or MD and Chairperson of the listed companies.

Since this recommendation has been accepted by SEBI, the separation of posts would come into effect from April 1, 2020. Initially, it will be applicable only for the top 500 listed firms in terms of market capitalisation.


Sunil Mehta Committee to set up Asset Reconstruction Company

Finance Minister Piyush Goyal announced setting up of a committee to give recommendations on formation of an Asset Reconstruction Company.

The committee will give recommendations in two weeks for faster resolution of stressed accounts.

The committee was formed under Chairmanship of Sunil Mehta, non-executive chairman of Punjab National Bank.


Government sets up T.C.A. Anant panel to bring transparency in jobs data

The union government has set up a committee headed by former chief statistician of India TCA Anant to bring in transparency in the jobs data calculation and presentation.

The labour bureau conducts two major surveys on employment scenario—Annual Employment-Unemployment Survey and Quarterly Employment Survey.

The Annual Employment Unemployment Survey was later replaced by Periodic Labour Force Survey (PLFS) being conducted by ministry of statistics and programme implementation (MoSPI).


Manmohan Juneja panel to review CSR enforcement under Companies Act

The union government has set up a 12-member panel to review the enforcement of CSR provisions under the Companies law as well as look at having a centralised scrutiny and prosecution mechanism to deal with violations.

The 12-member panel is headed by Regional Director (Western Region) Manmohan Juneja.

The latest move by the Corporate Affairs Ministry, which is implementing the Companies Act, comes little over four years after the Corporate Social Responsibility (CSR) norms came into force on April 1, 2014.


Sudarshan Sen Committee to study the entire gamut of regulatory issues relating to FinTech and Digital Banking in India

The Reserve Bank of India has recommended innovation labs, more partnerships and data protection laws, dedicated organization structure under each financial regulator tighter regulations and a self-regulatory body for FinTech companies.

Last year, RBI had set up an inter-regulatory Working Group to study the entire gamut of regulatory issues relating to FinTech and Digital Banking in India Chaired by Sudarshan Sen, Executive Director of RBI.


Y.H. Malegam panel to look into factors leading to bank frauds

The Reserve Bank of India (RBI) has set up a panel under board member Y.H. Malegam, a former president of Institute of Chartered Accountants of India (ICAI), to look into the factors leading to increasing incidents of bank frauds.

The move comes a week after Punjab National Bank said it has fallen victim to a Rs11,400 crore fraud, at the centre of which is billionaire jeweller Nirav Modi.



Subhash Chandra Garg Steering Committee to study Fintech related issues

The Union Government on March 5, 2018 constituted a Steering Committee to study various issues related to Fintech (Financial technology) space in India.

The Committee will operate under the Chairmanship of Subhash Chandra Garg, Secretary of Department of Economic Affairs (DEA), Union Ministry of Finance.


Himanta Biswa Sarma Panel on ‘Imposition of Cess on Sugar under GST’

The GoM will consider issues relating to ‘Imposition of Cess on Sugar under GST’.

“Himanta Biswa Sarma, Finance Minister of Assam is convenor and other members of this GoM are Rajesh Agrawal, Finance Minister, Uttar Pradesh; Sudhir Mungatiwar, Finance Minister, Maharashtra; D Jayakumar, Minister for Fisheries and Personnel & Administrative Reforms, Tamil Nadu and T.M.Thomas Isaac, Finance Minister, Kerala,” it said


Sushil Kumar Modi panel on ‘Incentivising digital payments in the GST regime’

The other GoM will examine the issues relating to ‘Incentivising digital payments in the GST regime’. The five-member panel to be headed by Sushil Kumar Modi, Deputy Chief Minister, Bihar will also have members Nitinbhai Patel, Dy. Chief Minister, Gujarat; Capt.Abhimanyu, Excise & Taxation Minister, Haryana; Amit Mitra, Finance Minister, West Bengal and Manpreet Singh Badal, Finance Minister, Punjab.


R Narayanaswamy panel to advise on valuation standards

The Centre has set up a 12-member Committee to make recommendations on the formulations and laying down of valuation standards and policies for compliance by companies and registered valuers.

This committee will be headed by R Narayanaswamy, Professor-Finance & Accounting, Indian Institute of Management, Bengaluru.


Baba Kalyani Committee to study SEZ Policy

The Union Government has constituted a group of eminent persons headed by Baba Kalyani, Chairman of Bharat Forge to study the Special Economic Zones (SEZ) Policy of India.

The group will evaluate the SEZ policy, suggest measures to cater to the needs of exporters in the present economic scenario and make the SEZ policy WTO compatible.

The Group is required to submit its recommendation in 3 Months’ time.



Non-financial Important Committees and Panels in News 2018


E Sreedharan panel to lay down standards for metro rail systems

Prime Minister Narendra Modi approved a proposal to set up a committee which will lay down standards for India’s metro rail systems in the country.

The decision aims at cutting the costs in the construction and operation of metro rail systems in the country and brings them under the Make in India umbrella.

The committee will be headed by E Sreedharan, who is also popularly known as the “Metro Man”.


Umesh Sinha Committee to suggest changes to RP Act, 1951

The Election Commission of India on 11 January 2018 constituted a 14 member committee to suggest changes to Section 126 of the Representation of the People Act, 1951 (RP Act) in view of social media expansion.

The Committee will be chaired by Senior Deputy Election Commissioner Umesh Sinha.


K Kasturirangan Panel on New National Education Policy

The HRD Ministry-appointed panel tasked with drafting a new National Education Policy will submit its report by March 31, 2018.

Headed by former Indian Space Research Organisation (ISRO) chief K Kasturirangan, the panel was set up in June 2017.


N Gopalaswami Empowered Expert Committee (EEC) for conducting the appraisal of applications for shortlisting 20 Institutions of Eminence (IoE)

The University Grants Commission on February 20, 2018 constituted a four-member Empowered Expert Committee (EEC), which will be responsible for conducting the appraisal of applications for shortlisting 20 Institutions of Eminence (IoE).

Former Chief Election Commissioner of India, N Gopalaswami, has been appointed as the chairperson of the committee.


HN Nagamohan Das Committee to examine the demand for a separate religion tag for Lingayats

HN Nagamohan Das Committee, a seven-member expert committee constituted by Karnataka Government to examine the demand for a separate religion tag for Lingayats, on March 2, 2018 submitted a report recommending “Religious Minority” status for Lingayat community.

However, the implementation of the recommendations of the committee depend on an ongoing case in the High Court of Karnataka related to Lingayat community.


Ajit Doval Committee to reform the process of higher defence planning

The Union Government on April 18, 2018 formed a new integrated institutional mechanism, Defence Planning Committee (DPC) to reform the process of higher defence planning.

The permanent body would be chaired by National Security Advisor Ajit Doval.


Vinay Sheel Oberoi panel to expedite capital acquisition for armed forces modernisation

To expedite capital acquisitions to bolster armed forces preparedness, Defence Minister Nirmala Sitharaman has constituted a 13-member Raksha Mantri Advisory Committee on Ministry of Defence Capital Projects (RMCOMP).

The committee will be headed by Vinay Sheel Oberoi, a former secretary in the government and the committee will have tenure untill the end of August 2018.


Vinay Sheel Oberoi Committee to examine the system of CBSE Class X and Class XII examinations

The Union Ministry of Human Resource Development (MHRD) on April 4, 2018 constituted a High Powered Committee to examine the entire system of conducting Class X and Class XII examinations, conducted by the Central Board of Secondary Education (CBSE).

The committee was constituted with the main aim of preventing leakages. Vinay Sheel Oberoi, retired Secretary  of Higher Education, MHRD, will be the Chairperson of the 7 member High Power Committee.


Bhupendrasinh Chudasama Committee to reduce the fear of maths amongst students

The Union Ministry of Human Resource Development on April 11, 2018 constituted a committee under the Chairmanship of Gujarat Education Minister Bhupendrasinh Chudasama to eliminate the fear of maths among the students.

The committee will also suggest the ways to make the maths subject easy and will submit its report in July 2018.


Justice Rajesh Bindal Panel on one-window solution for inter-country removal of children

A panel that was appointed by the Union Government has recommended one window solution in cases of inter-country removal and retention of children.

An official statement by the Women and Child Development Ministry on April 23, 2018 read, “stressing upon the need for mediation as the first step, the committee has recommended that the Government may establish an ‘Inter-Country Parental Child Removal Disputes Resolution Authority’.”


Dr. Randeep Guleria Committee for balanced expansion of Health Sector

The Fifteenth Finance Commission on May 24, 2018 constituted a High Level Group consisting of eminent experts from across the country in Health Sector to examine the strengths and weaknesses for enabling balanced expansion of Health Sector.

The Committee will be convened by Dr. Randeep Guleria, Director of All India Institutes of Medical Sciences (AIIMS).



V.K. Agnihotri Committee formed to revise ‘inadequate’ Rajya Sabha rules

A two-member committee to revise the rules and procedure of conduct of business in the upper House of Parliament has been formed by Rajya Sabha Chairman M. Venkaiah Naidu, Rajya Sabha Secretary General Desh Deepak Verma.

The two-member committee would be headed by former Rajya Sabha Secretary General V.K. Agnihotri, while S.R. Dhaleta, a former Joint Secretary in the Union Ministry of Law and Justice, would serve as a member.


PM Narendra Modi panel on Gandhi’s 150th birth Anniversary

President Ram Nath Kovind on May 2, 2018 presided over the first meeting of the national committee set up for commemoration of 150th birth anniversary of Mahatma Gandhi in 2019.

The 114-member committee, comprising Vice President M Venkaiah Naidu, Prime Minister Narendra Modi, former Prime Ministers and Chief Justice of India, will discuss the policies, plans and preparatory activities for commemoration of the birth anniversary.



Rajnath Singh Inter-State Council Standing Committee completes deliberations on Punchhi Commission report

The Standing Committee of the Inter-State Council (ISC) headed by the Union Home Minister Rajnath Singh on May 25, 2018 completed its deliberations on all the 273 recommendations of the Punchhi Commission.

The announcement was made during the 13th meeting of the Standing Committee of the ISC.

3 Committees on Prime Minister Museum

Shakti Sinha Content Committee

  • The Content Committee headed by Nehru Memorial Museum and Library (NMML) Director Shakti Sinha as its Chairman will have author-historian Makhan Lal, Professor Sriprakash Singh and some officials as its members.

Swapan Dasgupta Committee

  • Another panel, headed by Rajya Sabha MP Swapan Dasgupta, will have Prasar Bharati chief A Surya Prakash as a member. It will vet the content for curation for the museum on Prime Ministers of India, an official said.

Project implementing Committee headed by Shakti Sinha

  • The third panel, also headed by NMML Director Shakti Sinha, has senior CPWD officials on board. This project implementation panel will work on setting up the museum.

Rajendra Agrawal Joint Parliamentary Committee on Citizenship Bill to visit Assam

A Joint Parliamentary Committee (JPC) on Citizenship Amendment Bill 2016 will visit Assam from May 7 to May 10.

The JPC will be on the maiden trip to the state and will hold meeting with different organizations. The proposed amendment is stoutly opposed by several groups in Assam.

The JPC is headed by BJP MP Rajendra Agrawal.



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