BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5
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8
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10
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14
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Detailed explanation-1: -Detailed Solution. The correct answer is 14. The government through the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969 and nationalised the 14 largest commercial banks on 19th July 1969.
Detailed explanation-2: -In 1969, Allahabad Bank, Canara Bank, United Bank of India, UCO Bank, Syndicate Bank, Indian Overseas Bank, Bank of Baroda, Punjab National Bank, Bank of India, Bank of Maharashtra, Central Bank of India, Indian Bank, Dena Bank, Union Bank and were nationalised.
Detailed explanation-3: -The number of Banks nationalised since 1969 is 20.
Detailed explanation-4: -On 19 July 1969, 14 banks were nationalized under the ruling party of Mrs Indira Gandhi, accounting for about 85% of the country’s bank deposits.
Detailed explanation-5: -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.