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Mention any five financial sector Reforms of 1991.

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The major financial sector reforms introduced by Government of India in 1991 are as follows:

  • The role of RBI was made to facilitator of financial sector to financial controller.
  • Giving managerial autonomy to financial sector to take decisions.
  • Promotional schemes to establish private sector banks both Indian & foreign.
  • Increasing the foreign investment limit on banks to 50% 
  • No more nationalization of banks.
  • Allowing the foreign institutional investors (Fils) like merchant bankers, mutual funds and pensions funds to invest in Indian financial market.
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