Need for a Development Bank

Finance Minister on 23rd August 2019 announced and called upon the need to set up a development bank to boost the economy.

Development Bank

  • Development banks or development finance institutions are financial institutions that provide long-term credit for capital-intensive investments spread over a long period and yielding low rates of return, such as urban infrastructure, mining and heavy industry, and irrigation systems.
  • Such banks often lend at low and stable rates of interest to promote long-term investments with considerable social benefits.
  • These banks are different from commercial banks which mobilise and lend for short- to medium-term projects to avoid ....
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