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

to lend more easily for industrial development
to reduce the freedom given to banks to rationalize their existing branch network
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
Devaluation of a currency means

reduction in currency value due to wear and tear
all of the listed here
reduction in external value/exchange value of currency by the government
fall in exchange value of a country by market forces

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Indian Economy
Gross domestic capital formation is defined as

expenditure incurred on physical assets only
net addition to stock after depreciation
production exceeding demand
flow of expenditure devoted to increased or maintaining of the capital stock

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