why were the commercial bank in India nationalize? give three reasons
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1) During the tenure of prime minister Pandit Nehru and Lal Bahadur Shastri, banking was a monopoly of private sector.
2)India had adopted a mixed economy after independence. Nationalisation of banks was essential to cover the deficits if they occurred while implementing different changes and schemes.
3) Also the profits of these banks would came into the government treasury once they were nationalised.
4) Therefore, Prime minister Indira Gandhi nationalised 14 commercial banks in India
2)India had adopted a mixed economy after independence. Nationalisation of banks was essential to cover the deficits if they occurred while implementing different changes and schemes.
3) Also the profits of these banks would came into the government treasury once they were nationalised.
4) Therefore, Prime minister Indira Gandhi nationalised 14 commercial banks in India
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