In the early days after independence, India was under immense financial hardships. Peoples savings were drained out and citizens were unable to lead a normal life. Since banks were the lifeblood of the economy, the government felt that nationalizing banks would instill the faith in the banking system that was required to revive the economy. Hence they nationalized the nation's banks. State Bank of India is the largest bank in India and it is a nationalized bank.
banks in india was nationalised in 1969
23 nationalized bank
No, SBI is not a nationalised bank. It is one of the greatest bank. It is a public bank but not a nationalised bank. Right now 19 banks were nationalised out of 20, in which SBI i.e. State Bank Of India is not included.
IT is surprising that this question is being asked. Dena Bank was one of the fourteen banks nationalised in 1969. At that time, it was one of the bigger banks having 5th position all India.
A Bank is considered Nationalized if the bank is fully or at least majorly owned by the Government of India. The term nationalized is very commonly used in india to refer to government owned banks. They are called state owned banks or public sector banks in other countries. State bank of India, Punjab National Bank etc are examples of nationalized banks in india.
17 banks
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Yes. Canara Bank is a Nationalized Bank. It is one of India's oldest banks. It has over 3000 branches and 4000 ATMs across India. It was Nationalized in the year 1969 and has been owned by the Government of India ever since.
i want to know whether the employees of the nationalised banks are the government employee
There have been two waves of nationalizations of commercial banks in India. The first wave took place in 1969, when 14 banks were nationalized. The second wave occurred in 1980, when 6 more banks were nationalized. In total, 20 commercial banks were nationalized in India.
Jan 19, 2009
hi NABARD IS THE ONE OF THE APEX BANKS IN INDIA. TOTAL 5 APEX BANKS ARE THERE. THOSE ARE RBI, NABARD , EXIM BANK , IDBI , SIDBI . THESE ARE ALL WORKING UNDER UNION GOVERNMENT OF INDIA.