from 2008 crisis. This fact was
noted by the RBI and was placated
many times by the central
government.
Thirdly, after the nationalization
of banks, no Public sector Bank
(PSB) failed in India. Bank failures
in the post-liberalisation period
have all been of private sector, which
were amalgamated with PSBs.
Five such cases have
occurred : the Benarus State Bank
(BSBL) amalgamated with Bank
of Baroda on 19 June 2002;
Nedungadi Bank amalgamated
with Punjab National Bank on 1
February 2003; Global Trust Bank
merged with Oriental Bank of
Commerce on 14 August 2004;
Ganesh Bank of Kurundwad
amalgamated with the Federal
Bank Limited on 2 September
2006; and United Western Bank
amalgamated with Industrial
Development Ban