The fourteen (14) major banks in India were nationalized in the year

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In which year 14 major banks of India were nationalized?

  1. 1967
  2. 1968
  3. 1969
  4. 1971

 

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    On 19th July 1960, Prime Minister Indira Gandhi lead Congress government nationalized 14 major commercial banks in India. When Congress returned to power in 1980, six more banks were nationalized. The general purpose of nationalization was to expansion banking infrastructure in countryside and make facile finance for Indian Cultivator.

    List of Nationalized Banks in India:

    1. Allahabad Bank,
    2. Andhra Bank,
    3. Bank of Baroda,
    4. Bank of India,
    5. Bank of Maharashtra,
    6. Canara Bank,
    7. Central Bank of India,
    8. Corporation Bank,
    9. Dena Bank,
    10. Indian Bank,
    11. Indian Overseas Bank,
    12. Oriental Bank of Commerce (OBC),
    13. Punjab and Sind Bank,
    14. Punjab National Bank (PNB),
    15. Syndicate Bank,
    16. UCO Bank,
    17. Union Bank of India,
    18. United Bank of India (UBI),
    19. Vijaya Bank.
    20. IDBI Bank
    Pushpendra Pal Dean Answered on 20th January 2015.
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