It has become commonplace to hail institutions with a hoary past, irrespective of their fundamental weaknesses. However, such superfluous praise can do more harm than good to the cause of the institution and its stakeholders. A case in point was when a top functionary of the RBI recently glorified the rural credit co-operatives for following the tenets and principles of co-operation. However, it is the failure to adopt the principles and tenets of co-operation that is the bane of credit co-operatives in India. .........
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