CRR (Cash Reserve Ratio) refers to the percentage of net demand and time liabilities (NDTL) that banks are required to maintain with the central bank (Reserve Bank of India in this case) in the form of cash reserves. It is a tool used by the central bank to control and regulate the liquidity in the banking system.

The correct option in relation to banks in the post-reform period is option 'C', which states that CRR has been reduced in stages. Let's understand why this is the correct answer in detail.

Explanation:

1. Importance of CRR:
- CRR is an important monetary policy tool used by the central bank to control inflation, manage liquidity, and stabilize the economy.
- By changing the CRR, the central bank can influence the amount of money available for lending by banks and thus impact the overall money supply in the economy.

2. Post-reform period:
- The post-reform period refers to the period after the economic reforms initiated in India during the early 1990s.
- These reforms aimed to liberalize and open up the Indian economy, promote competition, and attract foreign investments.
- As part of these reforms, several changes were made in the banking sector to enhance its efficiency, promote financial inclusion, and strengthen the overall financial system.

3. CRR in the post-reform period:
- In the post-reform period, there was a gradual reduction in the CRR.
- The reduction in CRR was aimed at increasing the liquidity available with banks, thereby enabling them to lend more to businesses and individuals.
- This reduction in CRR helped in stimulating credit growth, promoting investments, and supporting economic growth.
- The reduction in CRR also aligned with the broader objective of financial sector reforms to enhance the efficiency and competitiveness of the banking system.

4. Other options:
- Option 'A' is incorrect as it states that the bank rate has been increased to 10 percent. The bank rate refers to the rate at which the central bank lends money to commercial banks. There is no information provided regarding an increase in the bank rate.
- Option 'B' is incorrect as it states that the CRR has been increased to 20 percent. There is no information provided regarding an increase in the CRR.
- Option 'D' is incorrect as it states that public sector banks have been asked to raise their funds from their private resources only. There is no information provided regarding such a directive to public sector banks.

In conclusion, the correct option is 'C' as there was a reduction in the CRR in the post-reform period, which aimed at increasing liquidity in the banking system and supporting economic growth.