Similar episodes, however, have occurred in the past, even before the deepening of the globalization process. In each case the years of high growth have been followed by years of low growth and often crisis.
Banks have been advised to provide small overdrafts in such accounts. Relaxation on know-your-customer (KYC) norms: KYC requirements for opening bank accounts were relaxed for small accounts in August 2005, thereby simplifying procedures by stipulating that introduction by an account holder who has been subjected to the full KYC drill would suffice for opening such accounts.