GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
What was the deposits criteria of 14 Banks nationalized on 19th July 1969?
|
|
Rs. 50 Crore
|
|
|
Rs. 100 Crore
|
|
|
Rs. 500 Crore
|
|
|
Rs.1000 Crore
|
Explanation:
Detailed explanation-1: -In 1969, fourteen major private commercial banks were nationalized with deposits not less than Rs. 50 crores.
Detailed explanation-2: -The objective was to serve large masses of the unreserved rural population. Further, the specific requirements of sectors like foreign trade, housing, and agriculture were met. This was met by establishing NABARD, NHB, SIDBI, and EXIM.
Detailed explanation-3: -On July 19, 1969, Indira Gandhi who was both Prime Minister and Finance Minister at that time decided to nationalise 14 largest private banks of the country.
There is 1 question to complete.