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Global Trust Bank (India) (GTB) was founded on 21 October 1994 and commenced operations at Secunderabad. Its founders included Ramesh Gelli (its first Chairman), Sridar Subasri, and Jayant Madhob, among others. The bank introduced a number of technology-based innovations and responsive service.〔Sridar (2004).〕 GTB was involved in the stock market scam of 2001, that the stockbroker Ketan Parekh ran. GTB lent heavily to individuals speculating in the stock market; when the market crashed the bank suffered extensive losses. One consequence was that merger talks with UTI Bank fell through. The Reserve Bank of India (RBI) forced Gelli to resign. Gelli's successor resigned after six months, and Gelli's son joined the board of directors. In 2004, Gelli briefly returned to the bank in February 2004 before being again forced to resign.〔 RBI examined GTB's accounts for 2001-2 and found that GTB's net worth had turned negative, but did not close the bank.〔 GTB did not address its problems. Instead, and despite its dire straits, GTB continued to grow. It had 87 branches in 2002-2003, and grew to 103 branches before the RBIC forced it to close.〔 It also paid interest on deposits at a rate equal to or better than other banks in its area.〔 GTB sought to recapitalize itself by bringing in new investors. In mid-2004 GTB was in close talks with Newbridge Capital. Newbridge was to invest US$200million, subject to RBI approval. However, RBI was reluctant to permit private investors to restructure GTB.〔Marcello (2004).〕 The RBC issued a Moratorium Order on 24 July 2004. Before GTB's winding up, Goldman Sachs owned 4% of the bank and the International Finance Corporation owned 5%. Oriental Bank of Commerce acquired GTB on 14 August 2004. Shareholders in GTB received nothing for their shares; depositors, however, suffered no loss. After acquiring GTB, OBC discovered that GTB's situation was even worse than it had appeared at the time of acquisition. OBC did gain an increased presence in the south, where its presence had been weak and OBC's was extensive.〔 GTB had been leaner than OBC. OBC had ten times the staff and branches than GTB, but only four to five times as much in the form of deposits, investments, or advances.〔Gupte (2004).〕 ==Citations and references== ;Citations ;References *Gupte, V. Yatin (July 2004) ''Impact Analysis: GTB-OBC merger''.() - accessed 2 November 2014. *Marcello, Ray (27 July 2004) "RBI directs Global Trust Bank to Merge". ''Financial TImes''.() - accessed 2 November 2014. *Sridhar, V. (14–27 August 2004) "The Collapse of a bank". ''Frontline'', Vol. 21, #17.() - accessed 2 November 2014. *Suryanarayana, A. (2006) ''The Rise and Fall of Global Trust Bank''. (ICFAI). ISBN 8178817748 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Global Trust Bank (India)」の詳細全文を読む スポンサード リンク
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