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Home Questions Q4X7HXAR8V
Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:
What was the major aim of "Financial sector reforms" in the year 1991, under New Economic Policy?
Options:
To increase the supply of money in market
Reduce the role of RBI from regulator to facilitator
Both 1 and 2
Abolish licensing
Correct Answer:
Reduce the role of RBI from regulator to facilitator
Explanation:
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.

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