17 Views

Question : Banks in India were nationalized for the first time in the year:

Option 1: 1950

Option 2: 1960

Option 3: 1969

Option 4: 1979


Recommended : Get important details about BEL First Grade College, Bangalore. Download Brochure
Team Careers360 13th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: 1969


Solution : The correct option is 1969

The ultimate purpose of nationalising banks was to extend banking services to neglected and underprivileged areas and to facilitate financial inclusion and consolidation. On July 19, 1969, Prime Minister Indira Gandhi ordered the nationalisation of 14 banks with deposits exceeding Rs. 50 crore. Banks lend money to people, institutions and others to establish businesses and for various commercial and personal transactions.

Compare Colleges

College Comparison based on Courses, Placement, Rank, Fee

Compare Now

Know More About

Related Questions

Shoolini University Admission...
Apply
NAAC A+ Grade | Ranked No.1 Private University in India (QS World University Rankings 2025)
Amity University, Noida B.Com...
Apply
Ranked as India’s #1 Not for profit pvt. University by India Today
Amity University BA Admission...
Apply
Ranked amongst the top 3% of universities globally (QS Rankings)
BFIT Technical Campus Dehradu...
Apply
UGC-approved and NAAC-accredited B.Com program affiliated with HNB Garhwal Central University.
Amity University, Noida BBA A...
Apply
Ranked amongst top 3% universities globally (QS Rankings)
Manav Rachna-MRIIRS B.A Admis...
Apply
41000+ Alumni network | Students from over 20 countries
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books