why did prime minister indhira gandhi nationalized banks?
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After becoming Prime Minister, 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.
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To promote rapid growth in agriculture sector , small industries and export to encourage new entrepreneurs and to develop all backward areas . It took place in July 19 , 1969
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