The Narasimham Committee for Financial Sector Reforms has suggested reduction in

1. The Narasimham Committee was constituted in 1991 to suggest reforms in the Indian Financial Sector. 2. One of its key recommendations was the phased reduction of the Statutory Liquidity Ratio (SLR) and the Cash Reserve Ratio (CRR) to improve the profitability and lending capacity of banks. 3. While the committee also addressed Priority Sector Financing, suggesting a reduction in its scope and a redefinition, the most prominent and direct suggestion regarding rate reduction focused on SLR and CRR. 4. Option (A) directly reflects this primary recommendation for reduction.