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Yes it is very much possible. It is the decision of the government of the country to choose when or which bank they want to nationalize but they can't just pick up any bank that is held by a private company and nationalize it. There must be a valid reason.
For ex: In India around 14 banks were nationalized in 1969 and a further 5 banks were nationalized in 1980. Let's say tomorrow a private bank declares bankruptcy and has thousands of customers who have deposited millions of rupees in the bank, to reduce impact to customers, the government of India can step in and say, we are taking over this bank (nationalizing it) and we'll be responsible for the money in it. This way the customers would be saved of the agony of losing their hard earned money.
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∙ 13y ago
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What is meant by nationalisation of bank?
Nationalisation of banks means taking private ownersip of banks to goverment.
Nationalisation of bank when Indira Gandhi was prime minister?
Yes
Who was the prime minister of India at the time of nationalisation of bank?
Indira Gandhi
What is the position of sbi in world banks?
sbi is a government bank, initiated in the sub - continent by the British East India Company as Imperial Bank of India Rechristened as State Bank of India by the indian Republic in the year 1955. Nationalisation of Banks refer to the private Banks being taken over by the Government of India. The Nationalisation of the Banks was partly responsible for the breaking of the Indian National Congress Party.Mr. Morarji Desai resigned from Mrs. Gandhi Govt due to the Nationalisation of Banks, However Mr. Desai did endorse the policy of Mrs. Gandhi after coming to power in this respect. Thereby the well run entreprenuership of Banking Industry remained in shambles.
What are the effects of commercial bank nationalisation in India?
The effects of nationalization of the Commercial Bank in India is that it has had a positive effect on the economy. The natives of the country have directly benefited from nationalization of the bank because they own it.
What is nationalisation in education?
it means that the system of educaton will be
How many miles per hour is the bicyclist traveling?
Without further information it is not possible to answer the question.Without further information it is not possible to answer the question.Without further information it is not possible to answer the question.Without further information it is not possible to answer the question.
How many banks were in second phase of nationalisation?
6
What is it called when the government takes over a private industry?
Nationalisation
When was the second phase of nationalisation of banks done?
15th April, 1980
When a company eats up its own market share what is it called?
nationalisation
No objection certificate from builder for bank?
NOC From The Builder For Bank Will Not Have to Necessary Further Process
