This was a bank set up by the Times of India group, and had a good listing on the stock exchanges. However, it soon merged with HDFC Bank, creating one of the largest banks in India. The merger set off a ’’chain reaction’’ with the next to follow being the Bank of Madura merger with ICICI Bank. The next in line was the merger of Global Trust Bank with UTI Bank, but was not to be what with the Ketan Parekh scam unravelling and the markets crashing.
Due to the merger, the question ’’Recommending TimesBank to a Friend’’ becomes irrelevant, as also the rating.