Verma panel submits report
04 Oct 1999
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The working group on the restructuring of weak public sector banks has submitted its report to the Bimal Jalan, Governor, Reserve Bank of India. The committee was set up by the RBI in consultation with the Government, in February 1999, under the chairmanship of Shri M.S. Verma, former Chairman, State Bank of India, and presently, honorary Adviser to RBI. The other members were K.R. Ramamoorthy, chairman, Vysya Bank Ltd., M.M. Chitale, chartered accountant, P.K. Choudhury, managing director, ICRA Ltd., J.R. Prabhu, former executive director, RBI, and Sushil Chandra former director, International Management Institute. Shri C.R. Murlidharan, General Manager, Reserve Bank of India, was the member secretary.
The full report is available on the RBI website at
The report has been sent to the government. The RBI will process the recommendations of the committee in consultation with the government.
