How many banks were nationalised in 1969 ........

How many banks were nationalised in 1969?

- In 1969, the Indian government nationalized several major banks to bring them under state control.

- This move was a significant step towards achieving greater control over the credit delivery system.

- 14 banks were nationalized during this landmark decision on July 19, 1969.

- The aim was to ensure a more equitable distribution of credit and boost the rural and agricultural sectors.

- The decision targeted banks with deposits over ?50 crore to maximize the impact.

Correct Answer: Option 3 - 14

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