Much of this trade ultimately came under the control of the trading companies created by the English and the Dutch. These state-sanctioned monopolies enjoyed - and aggressively protected - high markups and profits. Influenced by the prevailing mercantilist view of trade as a zero-sum game, European nation-states competed to dominate lucrative markets, a competition that sometimes spilled over into military conflict.
Banks should take a declaration to the effect, if the account holder is not enjoying any credit facility with any other bank. 15. Credit Information Companies (CICs) play a major role in information sharing. Banks and Financial Institutions are required to submit the list of suit-filed accounts and wilful defaulters of ₹ 25 lakh and above every quarter to CICs.