In places like BD, a majority of
the
applicants for financial assistance
from the DFI‘s
in
the
initial
stages
were
existing large industrial houses, or Managing agency
firms. These
institutions
had
resources of
men, material and
money and were therefore, able to
conceive, plan and implement new
or
expansion projects successfully.
Therefore,
there was
no
problem of arrears.
In the
wake
of
socialist
policies
pursued by these
newly
independent
states, further growth of large industrial houses and managing
agency
firms through DFI assistance was considered monopolistic and exploitative
of
the
majority by
the minority. These
were conceived as
institution reminiscent of the former British regime.
This
attitude led to a greater
intervention of the state in the regulation
and operation of DFI‘s, which in almost all cases were state owned.