Among the key reasons why development finance institutions (DFIs) could not survive in their earlier avatar was that a scarcity of long-term financing made the business model of such entities unviable. Now that DFIs are set to make a comeback, with the Union Budget proposing to set one up, three key issues seem crucial for their success – the availability of long-term funds at a reasonable cost, private-sector ownership, and professional management.
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First Published: Wed, February 17 2021. 10:09 IST