SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tha number of Banks nationalised since 1969 is
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8
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12
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14
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20
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Explanation:
Detailed explanation-1: -In 1969, 14 banks were nationalized by the Government of India to utilize their resources in the development of the country. These banks constituted more than Rs 50 crore, which was intended to be used to meet the development needs of the economy for agriculture, exports, small-scale industries, etc.
Detailed explanation-2: -On the midnight of July 19, 1969, Indira Gandhi’s government nationalised 14 banks, each with reserves of more than Rs. 50 crore.
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