BANKING AND FINANCIAL INSTITUTIONS - II
DEVELOPMENT FINANCIAL INSTITUTIONS (DFIS)
In India, the role of DFIs is to support Long-term infrastructures of industry and agriculture. The DFIs were set up under the full control of both Central and State Governments. These institutions were used by the government for spurring economic growth and aid social development. The DFIs provide finance to all those entities which are not adequately served by the banks and capital markets like households, SMEs, and private corporations.
The idea of the kind of development banks at international level was promoted by John Maynard Keynes. It resulted in the setting up of World bank and International Monetary Fund after World War II. The same idea was picked up ...
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