What was the reason for the nationalization of Banking
before the govt.?
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Answer / dikumar2000
Before the nationalization Banking was serving to the small
section of society who was upper class, industrialist or
money lender. This sector has limited scope of development
of small section. It became necessary for the govt. to see
the development of all section of society. So govt. came
with proposal of nationalization & forced the Bank through
RBI to implement govt. policies which could serve to the
poor people of society. Means class Banking after
nationalization because it has started to provide several
kind of financial assistance to the all section of the society.
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