With reference to different Committees in India, consider the following details: | Sl. No…

Approach: Examine the mandate and the parent organization of each committee to identify historical inaccuracies in the provided table.

- **Correct Answer:** (d) 2 and 4
- **L.C. Gupta Committee (2):** Correctly matched. Set up by SEBI in 1996, it provided the framework for the introduction of financial derivatives in the Indian securities market.
- **Y.H. Malegam Committee (4):** Correctly matched. Constituted by the RBI in 2010, it was tasked with studying issues in the Microfinance sector, leading to significant regulatory reforms for NBFC-MFIs.
- **Why other rows are incorrect:**
- **R.N. Malhotra Committee (1):** Incorrectly matched. While it did recommend comprehensive insurance reforms, it was appointed by the **Government of India** in 1993, not by the IRDAI (which was established later in 1999 as a result of these very recommendations).
- **Urjit R. Patel Committee (3):** Incorrectly matched. This committee was appointed by the RBI to revise and strengthen the **Monetary Policy Framework** (focusing on inflation targeting), not for housing sector lending reforms.