Banks & financial institutions is for sure the major backbone of economy in any country. It serves as a major participants when in came’s to development in the country. Unfortunately due to the recent economic downfall in the world Banks from all over the world also suffers losses, So as a matter of fact many if them needs to revise the financial policy associated with banks & other financial institutions. Similarly debt consolidation activities are also altered as it was in previous policies & regulations. Privately owned banks & financial institutions get relief by the central bank to manage their operation. One the other hand few of the famous banks did merger with one another to cope with the problem of financial crunch.
The worldwide financial break down is a part of world economy, there is a theory that every economy has to suffer loss after they enjoys extensive boom, similarly every business gradually or slowly must have to reaches it peaks when its rate of return is at its meximum level. after it reches its peak little by little it starts decline & finally reaches to the bottom line where its productivity became zero, then the gworth process starts & so on. so the current recession can also be considered as the practical approach world economic theory & we need to wait for few years to make all financial matter & business operation run smoothly as it needs to be for a better economic growth are prosparity.
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