Question

Commercial Banks in India were nationalized in 1969 because _________.

• A. there was urban bias in terms of availability of banking services
• B. agriculture sector was neglected
• C. there was concentration of economic power
• D. all of the above

Answer 1

Answer: (D)

all of the above

All of the above were the reasons for the nationalization of commercial banks in India. As Indian banking system suffered from urban bias with regard to availability of banking services, the agriculture sector was neglected and there was a concentration of economic power.