How many commercial banks were nationalised in India in 1969 ?
14
On 19 July 1969 the Government of India nationalised the major commercial banks through the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, later replaced by an Act of Parliament.
The move covered every bank with deposits of more than ₹ 50 crore, and 14 such banks, including Central Bank of India, Bank of Baroda and Punjab National Bank, came under government ownership.
A second round followed on 15 April 1980, when 6 more banks were nationalised, taking the total to 20.
Hence, 14.
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Which one of the following is likely to be the most inflationary in its effects?
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2. increase the foreign value of domestic currency
3. improves the trade balance
Which of the above statements is/are correct?
Indian Government Bond Yields are influenced by which of the following?
1. Actions of the United States Federal Reserve
2. Actions of the Reserve Bank of India
3. Inflation and short-term interest rates
Select the correct answer using the code given below.
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1. They are supervised and regulated by local boards set up by the State Governments.
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Which of the statements given above is/are correct?
