Question

why did indira gandhi nationalised banks​

Answer 1

Answer:

After becoming Prime Minister, Indira Gandhi expressed the intention of nationalising the banks in a paper titled, "Stray thoughts on Bank Nationalisation" in order to alleviate poverty. The paper received the overwhelming support of the public. In 1969, Gandhi moved to nationalise fourteen major commercial banks.

Answer 2

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Banks were asked to push funds towards sectors that the government wanted to target for growth. Indira Gandhi told the Lok Sabha on 29 July 1969 that the “purpose of nationalization is to promote rapid growth in agriculture, small industries and export, to encourage new entrepreneurs and to develop all backward areas".

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