Take a case of a nationalised bank visit any of its branches in your city.Analyse the main feature of the bank's branch.Make a presentation to this effect.
Answer in 700 words.Don't answer rubbish please
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Answer:
Recently one of our readers sent me an interesting question : What is is the difference between nationalized banks and public sector banks? I had to pause for few moments and tried to assimilate so that I can answer the same in few sentences. Soon I realised that it is not that simple to make this understand to a young student who does not have a background of banking history. May be even most of the bankers will fumble for words if they are asked this question. Thus, I decided to attempt this basic question for my young readers. I have never come across such explanation at any time. Internet material is full of confusion and is thus not realiable for a young banker in this respect. Therefore, my other fellow bankers will be free to further add anything which can make the life easier for young students.
Let me first of all explain, WHAT IS NATIONALIZATION ? Nationalization is a process whereby a national government or State takes over the private industry, organisation or assets into public ownership by an Act or ordinance or some other kind of orders. This strategy has been frequently adopted by socialist governments for transition from capitalism to socialism.
In India since independence following major nationalizations have taken place :-
1949 : RBI was nationalized (RBI was state owned at the time of Indian independence).
1953 : Air India was nationalised under the Air Corporations Act 1953
1955 : Control of Imperial Bank of India was acquired by RBI
1969 : 14 Indian private banks were nationalised;
1972 : 106 insurance companies were nationalised into four insurance companies
1973 : Coal Industry and Oil companies were nationalised
1980 : 6 more Indian private banks were nationalised