• Bharat Poddar

Banks may not succeed in meeting all expectations. NBFCs will play a very crucial role on the extreme ends of the spectrum where there is an innovation challenge — infrastructure finance, rural and agricultural finance, SME finance, and financial inclusion. The role of DFIs will be crucial to bridge market failures in rural infrastructure. Among other things, the government needs to accord the highest priority to the development of a deeper wholesale debt market. Positive regulations are needed
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