Indian banking sector being the backbone for the industrial and economic growth has seen great reforms to make the entire structure and its functioning in a more organised manner. Narasimham committee through its recommendations in 1992 and 1998 tried to reorganise the sector by establishing various Tribunals, modifying SLR, CRR, bank rates etc. Indian banking sector has experienced changes in terms of their performance, profitability, and productivity. An effort is made to bring out the impact of such reforms on the commercial banks, trying to explore and analyse their changing role with respect to Narasimham committee recommendations.