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

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

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Indian Economy
Deficit financing implies

public revenue in excess of public expenditure
public expenditure in excess of public revenue
none of the listed here
printing new currency notes

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