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What is Nationalisation of Banks in India about?

Nationalization of banks in India occurred in 1969 and 1980. In 1969, 14 major commercial banks were nationalized. In 1980, 6 more banks were nationalized. The objectives of nationalizing banks were to eliminate concentration of economic power, diversify credit to priority sectors like agriculture and small businesses, and professionalize bank management. In the short term, nationalization increased rural bank branches and agricultural lending. However, in the long term, nationalization did not significantl

Author

Sonai Das

Language

EN