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Question

Which among the following Act laid down the conditions for the nationalization of Banks?

This question was previously asked in
UPSSSC PET 2022 Question Paper (16-Oct-2022) (Shift 2)
The correct answer is

Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 : The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 is the correct legislation that outlined the conditions for the nationalization of banks during that era in India.

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