First nationalization of mann banks were conducted in ........

Download Solution PDF

First nationalization of mann banks were conducted in?

19 August, 1969

19 October, 1969

19 July, 1969

None of The Above

छोटे Courses बड़े Results

Master

Prepare through Micro-courses

Try Now

Explanation:

The nationalisation of commercial banks took place with an aim to achieve Social Welfare, Controlling Private Monopolies, Expansion of Banking, Reducing Regional Imbalance, Priority Sector Lending and Developing Banking Habits. In order to have more control over banks, in 19th July, 1969 Mrs Indira Gandhi the then Prime Minister nationalised 14 large commercial banks whose reserves were more than Rs 50 crore