Indian Economy
In pursuance with the recommendations of Narsimham Committee, the RBI has framed new guidelines

to lend more easily for industrial development
to govern entry of new private sector banks to make the banking sector more competitive
to setup more foreign exchange banks
to reduce the freedom given to banks to rationalize their existing branch network

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Indian Economy
Subsidies mean

payment made by business enterprises to factors of production
payment by government for purchase of goods and services
payment made by companies to shareholders
payment made by the government to business enterprises, without buying any goods and services

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