Question
The Nationalization of Banks in India took place in
which year? 1)Â Â Â 1969 2)Â Â Â 1980 3)Â Â Â 2021Solution
The Nationalization of Banks in India took place in two phases. In the first phase, 14 major commercial banks were nationalized on July 19, 1969. These banks included the State Bank of India and its seven associate banks, as well as seven other banks. In the second phase, six more commercial banks were nationalized in 1980. Therefore, both statements are correct and the correct answer is option D.
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