4  BIS Review 14/2004  According to a Federal Reserve staff study, current account deficits that emerged among developed countries since 1980 have risen as high as double-digit percentages of GDP before markets enforced a reversal.6 The median high has been about 5 percent of GDP.
How was the banking scenario in the next couple of decades? •  Highly regulated credit flow (selective credit control, credit authorization scheme, no consumption credit & so on)  •  Militant unionized atmosphere- resistance to technology  •  Stiff branch authorization norms, loan melas, opaque income recognition & asset classification (IRAC) norms ….Just to name a few.