What is the Nachiket Mor Committee?

By Shivank Goel|Updated : August 25th, 2022

The Nachiket Mor Committee was established by the RBI in 2013 under the chairmanship of Mr. Nachiket Mor, an RBI board member. The Nachiket Mor Committee was the 'Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households.' The detailed report on this committee was released by the Reserve Bank of India in January 2014.

Several recommendations were made by the Nachiket Mor Committee, one of which was to provide a universal bank account to all Indians above 18 years of age by January 01, 2016.

Nachiket Mor Committee Recommendations

  • Stressed on the role of Aadhaar as the prime driver during the process of expansion of the number of bank accounts.
  • District-level monitoring such as deposits and advances as a percentage of gross domestic product (GDP).
  • Universal bank accounts for all Indians above 18 years of age by January 01, 2016.
  • Adjusted 50% priority sector lending target.

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  • The Nachiket Mor Committee was set up by the RBI in 2013.

  • Mr. Nachiket Mor, an RBI board member, was the chairman of the Nachiket Mor Committee.

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