Accordingly, financial deepening in the three consecutive years 1997-00 was conspicuous as BCRD accelerated from (-) 33.
Finally, the four year period (2005-09) witnessed a positive trend in BCRD implying continuing financial deepening of the system but at a declining average annual growth rate.
However, BCRD in India is much lower than in several advanced and emerging economies, (China and Malaysia for instance), indicating the need for further development of the financial sector.
sizes include 32" x 40", 40" x 48" and 45" x 48" models, each with 33" inside usable heights.
With CAS, the BCRD will be able to operate a complete modern, high value settlement system, and make use of Society for Worldwide Interbank Financial Telecommunications (SWIFT) services and payment formats.
Parallel to this, BCRD has been instituting major reforms in financial supervision and regulation to promote growth and stability in the banking system within a global environment as well as the use of modern electronic payment tools.
The acquisition of BCRD
Ltd follows BFG's recent purchase of Classic Couverture Ltd in November 2000.