| Mr. Pankil Sanghvi, Partner (Tax & Regulatory Services) at BDO India LLP, Bengaluru was an invited resource person to the one-day Pre-Conference Workshop on the theme “Development Banking and Inclusive Growth: Emerging Trends” held on November 14, 2019. He spoke on the topic – ‘Development Banks – Indian Policy and Regulatory Aspects: The Macro Economic Impact’. overviewed and presented the audience with evolution of development banking in India, the core challenges the sector is facing, and the factors contributing to the shutdown of development banks. Reforms and liberalisation starting from 1991 was the key for growth of development banking, said Mr. Pankil. He emphasized the role played by Government in choosing development banks to reconstruct India economically after independence. He also deliberated that Development banks channel money from people to project as a coordinator and hence ought not to make any profits from it themselves. |
