In 1992, the banking sector reforms were introduced as per:

The correct answer is

The Narasimham Committee Report was a report submitted to the Government of India in 1991 by a committee headed by M. Narasimham, a former Governor of the Reserve Bank of India. The report recommended a number of reforms in the Indian banking sector, including:

• Liberalization of interest rates
• Deregulation of the banking sector
• Strengthening of the prudential norms
• Introduction of new technology
• Introduction of new products and services

The Narasimham Committee Report was a landmark report that had a profound impact on the Indian banking sector. The reforms recommended by the report were implemented over the next few years, and they helped to transform the Indian banking sector into one of the most vibrant and competitive in the world.

The other options are incorrect because:

• The C. Rangarajan Committee Report was submitted in 1985.
• The Suresh Tandulkar Committee Report was submitted in 1998.
• The Sukhamoy Chakrabarty Committee Report was submitted in 2005.