The liberalization of Indian Banking and Regulation was done based on recommendation of _______?

a. R Gandhi Committee

b. Narasimham Committee

c. Basel Committee

d. Khusro Committee

ANSWER: Narasimham Committee

Explanation:

The Narasimham Committee was established under former RBI Governor M. Narasimham in August 1991 to look into all aspects of the financial system in India.

The report of this committee had comprehensive recommendations for financial sector reforms including the Indian banking sector and capital markets.