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Question
Government of India, for the first time, nationalised 14 large commercial banks in the year _______.
Government of India, for the first time, nationalised 14 large commercial banks in the year _______.
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Solution
The correct option is C 1969
The 14 largest commercial banks in India were nationalised in July 1969. These 14 banks together had 85% of the country's deposits. The move was aimed at extending credit facilities to all sections of the economy and promote financial inclusion.
The 14 largest commercial banks in India were nationalised in July 1969. These 14 banks together had 85% of the country's deposits. The move was aimed at extending credit facilities to all sections of the economy and promote financial inclusion.
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