BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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19
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26
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27
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None of these
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Detailed explanation-1: -It was on July 19, 1969, when then prime minister Indira Gandhi announced the nationalisation of 14 banks.
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: -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-4: -On July 19, 1969, at 8:30 PM, Prime Minister Indira Gandhi announced that 14 major commercial banks of India with over Rs 50 crores deposits had been nationalized. These institutions held almost 85% of bank deposits in the country.
Detailed explanation-5: -On the midnight of July 19, 1969, Indira Gandhi’s government nationalised 14 banks, each with reserves of more than Rs. 50 crore.