The Reserve Bank of India (RBI), until the constitution of sector regulators like Sebi, Irda, etc, undertook the responsibility of developing various segments of the financial market. Setting up of institutions like the Industrial Development Bank of India, Unit Trust of India (UTI), National Housing Bank (NHB) and National Bank for Agriculture and Rural Development and so on, establishes historical track of the role played by the RBI in the development of the financial markets......
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