Question

why did government nationalise the imperial Bank​

Answer 1

Answer:

Why banks Nationalised in India?

• The reason for nationalising banks was to sync the banking sector with the goals of socialism adopted by the Indian government after independence. RBI's history points that the idea to nationalise banks and insurance companies germinated as early as 1948, in an All India Congress Committee report.

Answer 2

Answer:

It was nationalized in 1955 according to the recommendations of Rural Credit Survey Committee. The committee recommended that the government should establish a strong government owned commercial bank, which would undertake rapid expansion of banking facilities in rural areas.

Explanation:

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