IRCI- Absentee Landlordism

December 30, 1972 IRCI Absentee Landlordism PUBLIC financial institutions, as the allegation goes, arc afflicted by a pronounced locational prejudice. In particular, attention has been pointed toward the fact that none of the more important public financial agencies are based in the eastern region. The Reserve Bank of India, the Industrial Development Bank, the Industrial Credit and Investment Corporation, the Agricultural Finance Corporation, the Agricultural Refinance Corporation, the Unit Trust of India and the Life Insurance Corporation of India are all ensconced in Bombay. The Industrial Financial Corporation, the National Industrial Development Corporation, and the National Co-operative Development Corporation have their opera- lions directed from New Delhi. Till about 25 years ago, the major commercial bank in the country could pretend that it was headquartered in Calcutta; even that fiction has now been removed.