Bank nationalization case relates to the nationalization of ........

General Knowledge (CLAT) Indian Economy

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Bank nationalization case relates to the nationalization of

some banks by the Government of India after economic liberalisation in 1991.

some banks under a law during the Prime Ministership of Mrs. Indira Gandhi.

all the private Indian Banks during the Prime Ministership of Narasirnha Rao.

all the private Indian Banks during the Prime Ministership of Mrs. Indira Gandhi

Explanation:

In 1970, during the Prime Ministership of Mrs. Indira Gandhi the Supreme Court, in its judgement on Rustom Cavasjee Cooper v. Union Of India (1970 AIR 564, 1970 SCR (3) 530), popularly known as the Bank Nationalization case, held that the Constitution guarantees the right to compensation, that is, the equivalent money of the property compulsorily acquired.