In 1953 or thereabout the government of India nationalized Imperial Bank and changed its name to State Bank of India.
In 1969 the government of India nationalized 14 banks. In later years more banks were nationalized.
Some years back there was a proposal to nationalize those banks as they were making losses. The employees protested saying there were not responsible for losses.
The banks had lent to many industrialists who had not repaid the loan and that was the reason for losses. Many industrialists in India would have gone bankrupt years ago if banks had insisted on payments.