Correct Answer: International Monetary Fund (IMF)

Solution : The correct answer is (b) International Monetary Fund (IMF)

In 1991, India entered into a loan agreement with the IMF, under which the IMF provided financial assistance to help stabilize the Indian economy and address its balance of payments issues. The loan agreement included conditions and policy reforms aimed at liberalizing and restructuring the Indian economy, such as reducing fiscal deficits, implementing market-oriented reforms, and promoting trade and investment liberalization.

The IMF's financial assistance and the associated policy reforms helped India navigate the economic crisis and set the stage for the liberalization and economic reforms that followed in subsequent years.