Measures are being taken to overcome crises at ‘significant’ banks and at other banks directly supervised by the Bank of Italy: the latter number about 460, including groups and standalone banks, and account for 18 per cent of the assets of the Italian banking system.
The above numbers show that capital flows were in excess of the current account deficit in the years before the crisis during India’s growth boom and that they had abruptly reversed in the crisis year 2008/09. The full balance of payments for the just completed fiscal year 2009/10 is not yet available but latest data show that the net accretion to reserves was modest.