Open AccessDEVELOPMENT BANKING IN INDIA
Author(s) -
Anjali Gupta,
Purushottam Kumar Arya
Publication year - 2019
Publication title -
epra international journal of socio-economic and environmental outlook.
Language(s) - English
Resource type - Journals
ISSN - 2348-4101
DOI - 10.36713/epra2874
Subject(s) - independence (probability theory) , underwriting , business , financial institution , institution , financial system , investment (military) , capital (architecture) , investment banking , finance , business development , marketing , geography , political science , statistics , mathematics , archaeology , politics , law
Development banking in India is almost as old as India’s independence. The emergence of development banking in Indiais a post-independence phenomenon. Development bank is essentially a multi-purpose financial institution with a broaddevelopment outlook. It is a financial institution which provides all types of financial assistance (medium as well as longterm) to business units, by way of providing loans, underwriting, investment and guarantee operations and promotionalactivities – economic development in general and industrial development, in particular. Through this discussion we try tohighlight the phases through which Development Banking in India underwent, purpose for which they were establishedand how they are different from commercial banks in India. We also try to stress on the extent to which presence ofDevelopment Banks is relevant and important in the current scenario.KEY WORDS: Development Banks ,Capital Market, Commercial Banks, Financial Institutions, Foreign Exchange