Which committee recommended the constitution of the 'Internal Ombudsman' mechanism in banks and non-banking financial companies in India to strengthen internal grievance redressal?

💡 Solution & Explanation

The Usha Thorat Committee recommended the internal ombudsman framework to strengthen grievance redressal mechanisms within banks and financial institutions in India. Committees like the Narasimham Committee focused primarily on broader financial sector and banking reforms. This internal mechanism helps resolve consumer complaints before escalating to the Reserve Bank Ombudsman.