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do you know when the banks got nationalised and why?
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Answer Posted / devi
On 19th July 1969 14 major banks were nationalised. Then on
15th april 1980, 6 more banks were nationalised.
Banks were nationalised to channelise finance in accordance
with plan priorities.
To spread the banking habits in rural areas.
To provide liberal bank finance to neglected and priority
sectors.
And most of all to obtain commanding heights of the economy.
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