Public Account Committee (PAC)
- On 6th September, 2024, the Public Accounts Committee (PAC) decided to hold a performance review of “regulatory bodies established by Act of Parliament”, such as the Securities and Exchange Board of India (SEBI).
- PAC was first set up in 1921 in the wake of the Montague-Chelmsford Reforms.
- It is now constituted every year under Rule 308 of the Rules of Procedure and Conduct of Business in Lok Sabha.
- The functions of the Committee include examination of accounts showing the appropriation of sums granted by the legislature for the expenditure of the Government, the annual Finance Accounts of the Government and such other accounts ....
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