Banking sector reforms in India primarily aim to enhance ___ and improve accessibility.

Efficiency

True or False: The Reserve Bank of India was established after India's independence.

False; it was established on April 1, 1935.

Fill in the blank: The first nationalization of banks in India occurred in ___.

1969

What are the key objectives of banking sector reforms in India?

Banking reforms aim for transformation.

• Enhance bank efficiency.

• Integrate with global markets.

• Promote equitable credit access.

True or False: The Narasimham Committee I was responsible for initiating the second phase of banking reforms.

False; it was Narasimham Committee II that initiated the second phase.

Fill in the blank: The banking sector reforms in India were significantly influenced by the economic crisis of ___.

1991

Explain the impact of banking sector reforms on foreign competition in India.

The reforms provided domestic banks with greater autonomy, enabling them to compete more effectively with international banks and brands.

What role does the Reserve Bank of India play in the banking sector reforms?

The RBI acts as the primary regulatory body overseeing the implementation of banking reforms, ensuring adherence to policies and standards.

Fill in the blank: The introduction of ___ norms helped banks enhance their financial stability during the reforms.

Prudential

True or False: The second phase of reforms focused solely on branch licensing deregulation.

False; it also emphasized prudential norms and capital adequacy.

What was a significant recommendation of the Narasimham Committee I?

The committee recommended the introduction of prudential norms to improve the financial health of banks.

Fill in the blank: The establishment of ___ Recovery Tribunals was part of the reforms to manage outstanding debts.

Debt

What were the main reasons for initiating banking sector reforms in India?

Banking reforms addressed major economic issues.

• High inflation affected growth.

• Fiscal imbalances led to crises.

• Political instability hindered progress.

Fill in the blank: Banking sector reforms aim to ensure services are accessible to all segments of ___ including rural populations.

Society

True or False: The banking sector reforms have made banking services less accessible to users.

False; they have improved accessibility.