WBCS.LIVE practice question

Nationalisation of 14 Commercial Banks took place in

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

Answer options

  1. 1969
  2. 1980
  3. 1971
  4. 1991

Correct answer and explanation

Correct answer: 1969

Explanation: āœ… Correct Answer: A) 1969 šŸ“š Explanation: On July 19, 1969, the Indian government led by Indira Gandhi nationalized 14 major private commercial banks. This was a landmark economic decision aimed at expanding credit to rural areas and agriculture. The move significantly reduced the influence of large business houses over the country's banking system. it remains a defining moment in India's journey toward a more socialist-oriented economy.