What was the major aim of "Financial sector reforms" in the year 1991, under New Economic Policy?

To increase the supply of money in market Reduce the role of RBI from regulator to facilitator Both 1 and 2 Abolish licensing

Reduce the role of RBI from regulator to facilitator

One of the major aims of financial sector reforms was to reduce the role of RBI from regulator to facilitator of financial sector. This means that now financial sector may be allowed to take decisions on many matters without consulting the RBI.