ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Development Financing in a Changing Environment

Development finance institutions (DFIs) could consider adopting a three-dimensional approach to remain relevant in the changed context. First, while the relevance of specialised DFIs such as Nabard and Exim Bank, addressing a segmented need has not yet declined despite competition from the securities market and commercial banks, they need to focus on competence building and efficiency creation in their operations. Second, the business community needs to be made to accept that development cannot remain the responsibility of government alone. Third, and the most important, is that they need to invest heavily in human capital so that they can transform themselves to suit the changing environment.

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