Question

Nationalization of commercial banks

Answer 1

Answer:

The government through the banking companies ordinance, 1969 and nationalised the 14 largest commercial banks on 19 July 1969. These lenders held over 80 percent bank deposit in the country.

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Answer 2

Answer:

The government through the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969 and nationalised the 14 largest commercial banks on 19 July 1969. These lenders held over 80 per cent bank deposits in the country.