Economics · Economy
Which of the following was a key structural reform feature implemented in the financial sector under India's New Economic Policy (NEP) in 1991?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Imposition of strict restrictions on Foreign Direct Investment (FDI) in banking institutions
- 2Establishment of new private sector banks and licensing liberalization✓
- 3Comprehensive nationalization of all major remaining private commercial banks
- 4Complete enhancement of direct central control by the RBI over interest rates
Correct answer
Establishment of new private sector banks and licensing liberalization
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