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The Government of India (GOI) adopted planned economic development for the country (India). through five year plans which came into existence in 1951. The economic plan basically aimed at social ownership of the means of production. However, commercial banks, which were in the private sector those days, failed to help the government in fulfilling these objectives by refusing to give loans to the poorer sections such as cottage industry, village industry, farmers, craft men, etc.without any security. Therefore, the government on 19th July, 1969 decided to nationalize 14 major commercial banks. The second dose of nationalisation came in April 1980 when 6 more banks were nationalized.
M.J. SUBRAMANYAM, XCHANGING, BANGALORE
What else can I help you with?
When did banks nationalised?
Jan 19, 2009
The total number of commercial banks nationalised so far is?
its 20
Is there any validity period for solvency certificate issued by a nationalised banks?
1 year
What are the affiliated banks?
The affiliated banks are subsidiaries of the parent banks. The rural banks, co-operative banks are affiliated to nationalised/government banks and work in liason with them. The directives and principles of the parent banks are to be followed by them in framing credit, loan disbursal policies in their specified areas of activities.
What is difference between public sector bank and nationalised bank?
They both refer to one and the same. A public sector bank is also called a nationalized bank. It means that the government of the nation is the sole owning authority of the bank and it governs the functioning of the bank. Even if the bank declares bankruptcy the government holds the responsibility of returning all the money that was deposited by the customers.
When the banks in India was nationalised?
banks in india was nationalised in 1969
No. of banks nationalised with their limits?
17 banks
Are private banks nationalised banks?
s
Are employees in nationalised banks government employees?
i want to know whether the employees of the nationalised banks are the government employee
When did banks nationalised?
Jan 19, 2009
Is SBI a nationalised 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.
What is the total salary of a clerk in 19 nationalised banks?
According to a conducted research, the salary of a clerk in the nineteen nationalised banks is about fourteen thousand and four hundred Indian Rupees.
Number of Nationalised banks in India?
23 nationalized bank
What is the position of syndicate bank in nationalised banks?
5th position
Is the clerical salary equal in all nationalised banks?
yes
Which of the nationalised Banks is not situated in Maharashtra state?
Dena bank
Which year bank was nationalised?
14 banks in July, 1969 and six more banks were nationalized in 1980
