GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
June, 1951
|
|
|
June, 1955
|
|
|
June, 1959
|
|
|
July, 1969
|
Detailed explanation-1: -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-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: -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-4: -Nationalisation of banks was essential to cover the deficits of banks occurred while implementing different schemes. Also the profits of these banks. would come into the government treasury once they were nationalised.