How many major commercial banks were nationalised in India in 1969?
- A.Six
- B.Fourteen
- C.Twenty
- D.Twenty-one
Show answer
In July 1969 the government of Indira Gandhi nationalised the fourteen largest commercial banks, each with deposits above fifty crore rupees, in order to take banking to the villages and to direct credit towards agriculture, small industry and the weaker sections, which were together termed the priority sectors.
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