A large-scale injection of public money was carried out in 1998, nearly eight years after the bursting of the bubble. A similar story applies to the response to the aging and declining population. While the working-age population started to decline in 1996, this coincided with a period when people suffered from the severe effects of the bursting of the bubble.
In this context, it is important to note that as on 30th November 2011, out of 31 State Cooperative Banks (SCBs) and 371 District Central Co-operative Banks (DCCBs) in the country, 6 SCBs and 117 DCCBs were unlicensed compared to 17 SCBs, and 296 DCCBs, as on 31st March 2009.