Abstract
This paper deals extensively with the rise and decline of a All India Development Finance Institution (DFI) in India. In the process it deals with the financial sector reforms that have been undertaken in India and the change in approach towards a market oriented economy, which affected this DFI. The various options that were there with the DFI is analysed and the basic need for DFIs in today's economy is questioned. The paper also demonstrates the basic areas that a financial intermediary needs to safeguard against for long term viability in a competitive financial system.
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