WBCS.LIVE practice question

In which year were 6 more commercial banks nationalized in India?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 1969
  2. 1975
  3. 1980
  4. 1991

Correct answer and explanation

Correct answer: 1980

Explanation: āœ… Correct Answer: C) 1980 šŸ“š Explanation: Following the first major nationalization in 1969, the Government of India nationalized a second batch of 6 commercial banks on April 15, 1980. This move brought approximately 90% of the banking business in India under government control. The primary objective was to provide the government with more control over credit delivery to support the national economy.