Why Nationalization of banks held?
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Nationalization of Banks
held to ensure financial inclusion, credit facilities are made available to the poor people at low rate of interest.
Thus, Nationalization of Banks was undertaken in the year 1996 and 1980.
:)
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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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