Concept:The Bhandari Committee was formed to study and suggest improvements for Regional Rural Banks (RRBs).Explanation:This committee was set up in 1994.It focused on the restructuring of RRBs.It identified 49 RRBs that needed comprehensive restructuring.It also recommended giving more decision-making power to the boards of RRBs in business and staffing matters.Answer:Option C – regional rural banks' restructuring.