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Debashis Basu: Mudra Bank - new regime, old philosophy

Debashis Basu

For some strange reason, every new government wants to launch a new bank, or a major financial institution and multiple financial products. Previous governments have been responsible for superfluous organisations like IDFC with headquarters in Chennai, the Bharatiya Mahila Bank in 2013, the Rajiv Gandhi Equity Scheme, etc. The Narendra Modi government, following the same path, may well outdo previous governments, because Mr Modi, like Indira Gandhi, believes the government alone can "fix" the many problems India has. In just 10 months, the government has launched Jan Dhan Yojana ...