BANKING GENERAL KNOWLEDGE
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Detailed explanation-1: -Six scheduled commercial banks were nationalised in 1980. The banks which were nationalised in 1980 were Vijaya Bank Limited, Punjab and Sind Bank Limited, Oriental Bank of Commerce Limited, New Bank of India Limited, Corporation Bank Limited, Andhra Bank Limited.
Detailed explanation-2: -Indira Gandhi was the prime minister who nationalized banks in India.
Detailed explanation-3: -A total of 6 banks were nationalised in 1980 namely Punjab and Sind Bank Limited, Vijaya Bank Limited, New Bank of India Limited, Oriental Bank of Commerce Limited, Andhra Bank Limited, and Corporation Bank Limited.
Detailed explanation-4: -In 1969, the Government of India nationalised 14 major private banks; one of the big banks was Bank of India. In 1980, 6 more private banks were nationalised.
Detailed explanation-5: -A total of 6 banks were established including Punjab and Sind Bank Limited, Vijaya Bank Limited, New Bank of India Limited, Oriental Bank of Commerce Limited, Andhra Bank Limited, and Corporation Bank Limited.