Economics · Economy

Which of the following actions was NOT a component of the Financial Sector Reforms initiated under the economic liberalization model in India?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Enhancing RBI's micro-management role to strictly control the day-to-day administration of banks.✓
2Increasing the foreign direct investment limit in private banks up to 74%.
3Allowing existing banks to open new branches without individual RBI approval under relaxed criteria.
4Permission to establish new private sector banks.

Correct answer

Enhancing RBI's micro-management role to strictly control the day-to-day administration of banks.

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