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The nationalization of banks in India occurred in two phases in 1969 and 1980. During the first phase in 1969, 14 major commercial banks were nationalized under Prime Minister Indira Gandhi to promote social welfare and expand banking services. In 1980, an additional 6 banks were nationalized to further financial inclusion and equitable credit distribution. Bank nationalization significantly altered India

Author

Yamuna Viswam

Language

EN