ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Judiciary-Choosy Conscience

 A significant part of the expansion of commerical bank credit in the last few months represents a new manifestation of the financial profligacy of state governments which had been sought to be curbed in May last year by denying them overdraft facilities from the Reserve Bank, The state governments, it is now evident, have sought to overcome this disability by simply taking recourse to the commercial banks. This has been done through state government bodies like electricity boards and state industrial development corporations borrowing from the banks to finance expenditure which would otherwise have been met out of the state exchequer.

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