In order to deal with a situation of deflation in the economy, which of the following measures will be taken?

1. High margin requirements imposed by RBI
2. Decrease in bank rate 
3. Increase in statutory liquidity ratio
4. Decrease in cash reserve ratio

2 and 4

Situation of deflation can be solved with increasing the level of aggregate demand in the economy. It can be achieved through decreasing the bank rate and decreasing the CRR. Decrease in bank rate will further decrease the rate of interest offered by the commercial bank, eventually would motivate any individual to take loan, thus purchasing power would increase, aggregate demand would increase. Decrease in the CRR, means injection of money in the economy which results in increase in the purchasing power and eventually the aggregate demand. 

If high margin requirements are imposed by the RBI it would reduce the purchasing power of individual. Margin requirement is the difference between the market value of security offered by the borrower against the loan amount granted. Increase in the SLR, would reduce the money supply in the economy resulting in decrease in purchasing power of individual.