BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The committee, which submitted its report in April 1985, believed that price stability was essential for promoting growth and achieving other social objectives.

Detailed explanation-2: -The Committee had stressed the need to pursue price stability as the primary objective of the monetary policy. The Committee pointed out that the major factor that contributed to colossal increase in money supply had been the RBI’s credit to the government.

Detailed explanation-3: -Sukhamoy Chakravarty was one of the architects of the Five-Year plans of India. The Committee was of the view that banks should have greater freedom in determining their lending rates.

Detailed explanation-4: -Manmohan Singh established the Narasimham committee to examine the functioning of banks. On 14th August 1991, Government of India appointed a nine-member team called the Narasimham Committee I.