Is legalizing the Minimum Support Price appropriate? What obstacles lie in the way of MSP legalization in India?
The main cause of World War II was the Invasion of Poland by Germany in 1939. Though the was also had several long-term and short-term causes. Treaty of Versailles: The economic collapse seen by Germany after The World War I, grew resentment and desire of Lebensraum (living space) in them. Rise of NRead more
The main cause of World War II was the Invasion of Poland by Germany in 1939. Though the was also had several long-term and short-term causes.
- Treaty of Versailles: The economic collapse seen by Germany after The World War I, grew resentment and desire of Lebensraum (living space) in them.
- Rise of Nazism: The rise of Adolf Hitler and the Nazi party in Germany contributed to aggression.
- Economic Depression: The Great Depression of 1930s created economic instability and contributed to the rise of extremist ideologies.
- Rise of Militarism: The overall aggression was also increased by the growth of militarism in Germany and Japan.
- Failure of Appeasement: The policy of Appeasement in response to Hitler’s actions failed to prevent war.
- Failure of the League of Nations: The League of Nations formed to prevent war after the World War I, through collective security and disarmament, was unable to stop the actions of fascist regimes.
DFIs are large global institutions that play a vital role in financing and channelling long-term finance required for infrastructure and development projects and to all those entities which banks and capital markets do not adequately serve. Objectives & Key Features Primarily, they aim to mobiliRead more
DFIs are large global institutions that play a vital role in financing and channelling long-term finance required for infrastructure and development projects and to all those entities which banks and capital markets do not adequately serve.
Objectives & Key Features
Major DFIs
Post-Independence, various DFIs were incorporated which included IFCI (Industrial Finance Corporation of India ) the 1st DFI in India in 1948, ICICI (Industrial Credit and Investment Corporation of India Limited) in 1955, IDBI (Industrial Development Bank of India) in 1964, IDBI (Industrial Development Bank of India) in 1964, IRCI (Industrial Reconstruction Corporation of India) in 1971, SIDBI (Small Industries development bank of India) in 1989, EXIM Bank (Export-Import Bank) in 1982, NABARD (National Bank for agriculture and rural development) in 1982, NHB (National Housing Bank) in 1988.
Present Scenario
The role of DFIs was curtailed after 1991 LPG reforms, on the recommendations of the Narasimham Committee, due to rising NPAs (Non-Performing Assets). The merger of two crucial DFIs (ICICI and IDBI) into Universal Commercial Banks eventually led to the decline of the DFI in India.
Recently due to covid-19 induced economic recession and the presence of fewer institutions catering to this sector, the government under the Union Budget 2021 aimed to set up the National Bank for Financing Infrastructure and Development (NaBFID) which will be India’s first DFI to be established post -1991 reforms.
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