In the Mid Term Review of the Policy (2005-06), RBI exhorted the banks, with a view to achieving greater financial inclusion, to make available a basic banking ‘no frills’ account either with nil or very minimum balances as well as charges that would make such accounts accessible to vast sections of the population.
Economic interdependence must be assessed in three respects: the real economy (trade and direct investment); the financial economy; and economic policy (reciprocal influence and cooperation). 2. Trade and foreign direct investment  2.1 On trade. First, a premise: both the US and Europe were and are still relatively “closed” economies.