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Former RBI Governor And Architect Of Modern Indian Banking, M Narasimham Passes Away In Hyderabad Former RBI governor M Narasimham (Administrative Staff College of India) Former governor of Reserve Bank of India (RBI), 94 year old Maidavolu Narasimham passed away in Hyderabad on Tuesday (20 April). He joined RBI as a research officer in the Economics department and is the only governor who rose from the ranks of RBI. Narasimham who is popularly called as the architect of modern Indian banking, had chaired two high-powered committees on banking and financial sector reforms. The first high-powered committee he chaired was in 1991 on the financial system and second one in 1998 on banking sector reforms. ....
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Go beyond setting up a development finance institution Photo: Reuters Ashok Haldia Share Via Read Full Story The National Infrastructure Pipeline (NIP), which drew up a road map for investment of ₹102 trillion covering 6,835 projects (now increased to 7,400) over 2020-2025 , was considered over-ambitious from the start and has largely been a non-starter. India’s private sector has lacked both the resources to support the NIP and willingness to assume the imponderable risks involved. The government was unable to put in sufficient funds, and the economic stress caused by the covid pandemic worsened the scenario. Private participation has been in decline, despite several measures taken by the Centre in recent years to promote it, from inviting foreign investment and streamlining regulations to introducing innovative finance mechanisms like infrastructure investment trusts (InvITs), debt funds (IDFs) and our National Investment and Infrastructure Fund (NIIF). ....