phase 3

Question 1

privatisation of financial institutions

Answer 1

conversion of IFCI into a public company
private mutual funds
private banks were given licenses post 1991 in different stages
R N Malhotra committe recommended setting up of IRDAI

Question 2

Insurance

Answer 2

1999 act of parliament to re organise insurance sector
monopoly of both state /government over FI has been broken after privatisation.
PFRDA was set up