Government of India, for the first time, nationalised 14 large commercial banks in the year _______.
A
1956
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
1959
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
1969
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D
1963
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
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.