WHOLESALE BANKING | Staff Reporter, India

Could setting up specialised banks in India bridge the country's infrastructure gap?

The RBI is looking for ways to finance $1.5t in projects.

According to Bloomberg, India is considering turning to the private sector to help plug a chronic shortage of capital for infrastructure projects. The Reserve Bank of India is proposing Asia’s third-largest economy offer licenses to private companies to set up infrastructure banks.

That could help finance $1.5 trillion in roads, ports, power and other projects over the next 10 years and bridge a gap that ratings agency Standard & Poor’s says is shaving off almost 5 percent of the country’s gross domestic product.

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