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प्रश्न
"New Economic Policy 1991 altered the role of Reserve Bank of India (RBI) in the economy."
Justify the given statement with valid explanation.
औचित्य
उत्तर
- The Reserve Bank of India (RBI) was repositioned as a financial sector facilitator rather than a strict regulator in 1991 by the New Economic Policy.
- Financial institutions now have more freedom to decide for themselves within the parameters of the RBI's regulatory framework, thanks to this shift.
- The change was meant to promote financial system dynamism, competitiveness, and innovation in order to support stability and economic progress.
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