Question

in 1969,14 banks are nationalised.in 1980,6 banks are nationalised.Today there are only 19 nationalised banks . How?​

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

The year 2019 marks 50 years of India’s Bank Nationalisation. On July 19, 1969, Indira Gandhi who was both Prime Minister and Finance Minister at that time decided to nationalise 14 largest private banks of the country.

With Imperial Bank already nationalised and renamed as State Bank of India in 1955, this decision pushed 80 percent of banking assets under the control of the state. The third volume of Reserve Bank of India’s history termed nationalisation of banks as the “single most important economic decision taken by any government since 1947. Not even the reforms of 1991 are comparable in their consequences—political, social and, of course, economic.”

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