Question

    The first phase of bank nationalization began in the

    year of
    A 1955 Correct Answer Incorrect Answer
    B 1969 Correct Answer Incorrect Answer
    C 1971 Correct Answer Incorrect Answer
    D 1980 Correct Answer Incorrect Answer
    E 1991 Correct Answer Incorrect Answer

    Solution

    The first phase began in the year 1969 under the Indira Gandhi regime nationalizing 14 banks with deposits over 50 crore. In second phase, 6 banks were nationalized in 1980 with deposits over 200 crores.

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