...... The
late RK Hazari was an illustrious Deputy Governor of your institution.
Hazari produced a brilliant report in the 1960s which showed how
cleverly our business houses used the permit-license raj to enrich
themselves and hold back economic growth of the country as a whole. The
control of banks and insurance companies by the honourable business
houses was in fact cited frequently those days as having baneful
economic consequences............
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