As part of Banking Sector Reforms in 1991, Public Sector Banks -

Can approach the public to raise resources

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Should approach only RBI to raise resources

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May approach Government to raise resources

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None of the above

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Solution

The correct option is A Can approach the public to raise resources
In the banking sector reforms, the policy of privatization allowed public sector banks to raise funds from public so that ownership of the bank can be transferred to the hands of private individuals.

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Similar questions

Consider the following recommendations:

1.RBI should target only on reducing inflation and use only a single instrument to keep inflation under control;

2.Foreign investors should be allowed to invest in government bond market;

3.Government should sell small under-performing public sector banks;

4.Banks should be allowed to open branches and ATMs everywhere without restrictions.

Which of the above are among the draft recommendations of the RaghuramRajan Committee on Financial Sector Reforms?

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