Question
Download Solution PDFIn India 14 Banks Nationalised in the year
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 1969.Key Points
- Indira Gandhi government nationalized the 14 biggest commercial lenders on 20 July 1969.
- RBI Governor at that time was LK Jha who was the 8th governor of the bank.
- The second round of nationalization of 6 more commercial banks was done in 1980.
Additional Information
The following banks were nationalized in 1969
- Allahabad Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Dena Bank
- Indian Bank
- Indian Overseas Bank
- Punjab National Bank
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
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