What was the major aim of financial sector reforms in India?

Reducing the role of Reserve Bank of India (RBI) Increasing interest rates on loans Controlling inflation Promoting foreign investment in banks

Reducing the role of Reserve Bank of India (RBI)

The major aim of financial sector reforms was to reduce the role of RBI from a regulator to a facilitator of the financial sector. This involved allowing the financial sector to make decisions without extensive consultation with the RBI.