...........The
Indian ‘License Raj’ landscape has been full of changing goal posts and
favouritism in the name of course correction with changes in rules to
tailor the needs of businesses — be it the US cola companies, which were
permitted with a clause on mandatory public shareholding, or scores of
power companies, which are obliged with changes in tariff structure, or
usage of resources. Twenty six applications to own banks – some
surprising ones and some familiar ones dropping out – raise the question
whether the optimists are hopeful of having their way once the licences
are given, or that the pessimists have thrown in the towel even before
the first ball was bowled...............
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