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

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

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Indian Economy
Deficit financing implies

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

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