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

to reduce the freedom given to banks to rationalize their existing branch network
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

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Indian Economy
Depreciation means

closure of a plant due to labour trouble
loss of equipment over time due to wear and tear
destruction of a plant in a fire accident
closure of a plant due to lock out

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