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Question

Government of India, for the first time, nationalised 14 large commercial banks in the year _______.


A
1956
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B
1959
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C
1969
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D
1963
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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.

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