With reference to different Committees in India, consider the following details: 1. R.N. Malhotra Committee - Objective: Comprehensive reforms of Insurance sector in India - Organization: Insurance Regulatory and Development Authority of India 2. L.C. Gupta Committee - Objective: Preparing a roadmap for the introduction of derivatives trading in India - Organization: Securities and Exchange Board of India 3. Urjit R. Patel Committee - Objective: Preparing a roadmap for reforming bank lending to the Housing sector - Organization: Reserve Bank of India 4. Y.H. Malegam Committee - Objective: Preparing a roadmap for reforms in Microfinance Sector in India - Organization: Reserve Bank of India In which of the above rows are all the details correctly matched?

Option (D) — 2 and 4

• The R.N. Malhotra Committee (1994) recommended reforms in the insurance sector, but the organization that set it up was the Government of India (not IRDAI, which was established later in 1999 as a result of the committee's recommendations).
• The L.C. Gupta Committee was set up by SEBI in 1996 to develop a regulatory framework for derivatives trading in India. This match is correct.
• The Urjit R. Patel Committee (2014) was set up by RBI to revise and strengthen the monetary policy framework, particularly regarding inflation targeting. It was not about reforming bank lending to the housing sector.
• The Y.H. Malegam Committee (2011) was constituted by RBI to review issues and concerns in the microfinance sector, especially after the Andhra Pradesh microfinance crisis. This match is correct.

• 1. R.N. Malhotra Committee. Insurance sector reforms. IRDAI: Incorrect. The committee was set up by the Government of India, not by IRDAI. In fact, IRDAI was established as a result of this committee's recommendations.
• 2. L.C. Gupta Committee. Roadmap for derivatives trading. SEBI: Correct. SEBI constituted this committee in 1996 to design a framework for derivatives trading in India.
• 3. Urjit R. Patel Committee. Roadmap for reforming bank lending to Housing sector. RBI: Incorrect. The Urjit Patel Committee was constituted by RBI to revise the monetary policy framework (inflation targeting), not for housing sector lending reforms.
• 4. Y.H. Malegam Committee. Roadmap for reforms in Microfinance Sector. RBI: Correct. RBI set up this committee in 2010 to study issues in the microfinance sector and recommend regulatory measures.