If you were a big businessman would you create COMPETITION for yourself? Kind of a stupid question right?
Let us see what the Government of India does!
In the life insurance business it already OWNS India’s most valuable player viz LIC. However it creates SBI, Star Union Daichi, Canara Hsbc Insurance, Idbi Fortis, ….and I am not sure if I am missing a few names.
Similar is the case in General Insurance.
In banking it has 14 banks with branches all over the country, but is allowing one new bank IDBI to set up 150 new branches.
In mutual funds it owns UTI, but then creates SBI, Idbi, Canara, LiC, …..again a big list.
Beats me. Just cannot understand.
Can anybody give me an economically correct answer?
Politically correct answer I KNOW…but will not share it on a blog.
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