The horizon still sees the clouds of darkness looming on its edge: this is the current financial situation all over the world. The worst has just said goodbye but its traces are still there.

The financial chain reaction which started with the crisis of lending in USA, once looked quite capable of destroying all the world economies. However the situation is now becoming better with more and more economies being back on the path towards improvement.

India is one of the economies which has taken its initial steps on this path of progress. All the sectors of its business activities, which were once neck deep in absolute misery are now 'back in business'. Banking achievements and increase in loan applications are some of the examples.

The world has come together to help all the weak economies with major financial institutions giving their services. This service is primarily of monetary nature in the form of giving money for restoration and stabilisation of economies.

The positive outlook of the new president Mr. Barack Obama is an evidence of the efforts being undertaken by USA to come out of this miserable situation.

Indian Banking giants and also monitoring bodies (for banks) have taken steps to improve the financial situation residing in the country. The result has taken shape in many ways. The inflation rate has started to decrease and loans have also become cheaper. The overall economic performance has once again assumed its routine aspect of efficiency. The share market after mammoth falls has finally started to settle down. In fact optimism is evident in the hopes of financial and economic experts in their belief about economic growth. They are quite sure about a consistent rate of economic growth even when the world around is dangling on the smooth edge of prosperity and disaster.