Total bank deposits in India crossed Rs. 100 lakh crore for the first time in September 2016, with demand deposits crossing Rs. 10 lakh crore and time deposits crossing Rs. 90 lakh crore. However, the deposit growth rate has slowed considerably over the last five years. Public sector banks' mounting losses and declining profitability could wipe out their revenue reserves and hamper their ability to pay interest on bonds issued to meet capital requirements. The government plans to merge two large public sector banks after completing the clean-up of bad debts. This consolidation would help rebuild a strong financial system. The Reserve Bank of India has asked banks to submit interim financial statements by November 30th to assess difficulties in transitioning to international