 "illustration")
The yesteryear baseball player Yogi Berra’s unwitting one-liners are profoundly amusing. Berra’s quip that it was "deja vu all over again" came to mind when the central government announced in February 2021 that it is setting up yet another development finance institution (DFI) to fund long-term infrastructure projects.
Several DFIs such as the Industrial Credit and Investment Corporation of India and the Industrial Development Bank of India were established to provide long-term loans. These and other DFIs have since converted themselves into commercial banks. It is amply evident that project financing is fraught with multiple difficulties, making short-term lending to
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