BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Jawahar Lal Nehru
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Indira Gandhi
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Rajiv Gandhi
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Narsimha Rao
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Detailed explanation-1: -On the midnight of July 19, 1969, Indira Gandhi’s government nationalised 14 banks, each with reserves of more than Rs. 50 crore.
Detailed explanation-2: -It was on July 19, 1969, when then prime minister Indira Gandhi announced the nationalisation of 14 banks.
Detailed explanation-3: -Prime Minister Indira Gandhi nationalised 14 banks on 19th July1969.
Detailed explanation-4: -Indira Gandhi nationalised 14 major banks through an Ordinance on July 19, 1969. These banks held 70-85 per cent of total deposits in banks at the time.
Detailed explanation-5: -Not surprisingly, the Cabinet decision to nationalize the banks came a day after finance minister Morarji Desai, who was opposed to the move, was relieved of his portfolio leading to his resignation.