Question : GLOBAL TRUST BANK

(a) whether the Global Trust Bank (GTB) is saddled with accumulated losses of T_ Rs.260 crore - a damper for the Public Sector Banks;

(b) if so, the details thereof;

(c) whether Reserve Bank of India is planning to merge GTB with Public Sector Banks: and

(d) if so, the steps planned by the Government for taking over GTB?

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S. PALANIMANICKAM)

(a)&(b):Yes, Sir. Global Trust Bank Ltd. had incurred a net loss of Rs. 272.69 crore as on 31st March 2003.

(c): No, Sir. There is no such proposal at present.

(d ):Does not arise. ¦