A key strategic instrument in the reorganization and consolidation of the Indian banking industry, especially in the years after liberalization, is mergers and acquisitions. Bank mergers have been actively promoted as a policy action to reform the industry, motivated by goals including attaining economies of scale, increasing operational efficiency, boosting financial stability, and bolstering global competitiveness. In an effort to build more robust and resilient financial institutions, the Indian banking industry has seen a number of significant mergers involving both public and private sector banks. Mergers and acquisitions, however, present serious issues with operational integration, labor reduction, customer service quality, systemic risk, and market concentration, even if they also offer a number of advantages.