Q. The concept of ‘Universal Banking’ was implemented in India on the recommendations of:
Answer: R H Khan Committee
Notes: The concept of 'Universal Banking' in India was implemented based on the recommendations of the R H Khan Committee in 2001. This committee advocated for a banking model that combines commercial banking, investment banking, and insurance services under one roof, aiming to enhance financial inclusion and efficiency in the banking sector. Universal banking allows banks to offer a wide range of financial services, catering to diverse customer needs.