India Embarked on a Strategy of Economic Reforms In the Wake of a Serious Balance of Payment Crisis In 1991(Mohan, Rakesh 2005). In Indian Banking Sector, the Policy Makers Adopted a Cautious Approach For Introducing Reform Measures on the Recommendation of Narishmam Committee I (1991), Narishmam Committee Ii (1997) and Verma Committee (1999). the Main Objective of the Banking Sector Reforms Was to Improve the Efficiency of Banks and to Promote a Diversified and Competitive Financial System. One of the Outcomes of Such Reforms Was the Consolidation of the Banking Industry Through Mergers and Acquisitions.