R.N. Malhotra Committee is related to-

Explanation

The Malhotra Committee was constituted in April 1993, and its report was submitted in January 1994. As per the major recommendations of this report, the Insurance Regulatory and Development Authority Act, 1999 was enacted. The report recommended the establishment of an independent regulatory authority for the insurance sector. In April 2000, IRDA was incorporated as a statutory body. The main objectives of IRDA are to protect the interests of policyholders, ensure orderly regulation and promotion of the insurance industry, and deal with related and incidental matters.