ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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A Comment on RBI’s ‘Discussion Paper’

Reimagining Development Banks

The RBI’s “Discussion Paper on Wholesale and Long-term Finance Banks” is a welcome initiative for its familial resemblance to development banks—an indispensable institution in most late-industrialising economies. The success of development banks critically hinges on: (i) access to assured sources of low-cost, long-term funds; (ii) public ownership and/or management; and (iii) the quality of institutional governance. As development banks invariably incur quasi-fiscal costs with potential social benefits, their operations often are kept off-budget, insulating the investments from short-term budgetary negotiations.



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Updated On : 19th Sep, 2017

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