New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Nationalisation of 14 banks happened in the

    year:
    A 1948 Correct Answer Incorrect Answer
    B 1955 Correct Answer Incorrect Answer
    C 1969 Correct Answer Incorrect Answer
    D 1980 Correct Answer Incorrect Answer
    E 1991 Correct Answer Incorrect Answer

    Solution

    In 1969 the Indian Government nationalised 14 major private banks. In the year 1980, six more private banks were nationalized, making the total number to 20. In 1994, New Bank of India was merged with Punjab National Bank, thus making the number to 19. SBI is also a Nationalsied Bank under SBI Act of 1955. IDBI Bank is also a Public Sector Bank, started as Industrial Development Bank of India Industrial Development bank of India in 1964. These nationalised banks are the majority lenders in the Indian economy.

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