Question

What are the objectives of nationalization of banks in india?

Answer 1

Objectives Behind Nationalization of Banks in India : Social Welfare : It was the need of the hour to direct the funds for the needy and required sectors of the Indian economy. Sector such as agriculture, small and village industries were in need of funds for their expansion and further economic development.

Answer 2

Heya....

In 1973 Indira Gandhi as the prime minister just centralized all the banks in India...

The purpose of this was :-

• To set the country's banking system as a socialism...

• To avoid the corruption of intermediaters of private banks...

• To serve easy loans for people...

Thank you