Question

Give reason:banks were nationalist in 1969

Answer 1

Answer:

for financial inclusion

to extend more loans to poor and farmers

to extend credit in tier 3 cities

to increase number of banks

etc.

Answer 2

Answer:

In 1969 the Indian government nationalised 14 major private banks; one of the big banks was Bank of India. In 1980, 6 more private banks were nationalised. These nationalised banks are the majority of lenders in the Indian economy. They dominate the banking sector because of their large size and widespread networks.