alleryIn which decade did the Indian banking sector see major nationalisation?
A1950s
B1980s
C1970s
D1960s
Answer & Solution
Correct answer: D. 1960s
1. Major nationalisation of 14 commercial banks occurred in July 1969.
2. This brought banks under government ownership to extend credit to rural and priority sectors.
3. Another round of nationalisation followed in 1980.
_Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_
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