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In which decade did the Indian banking sector see major nationalisation?
Answer & Solution
Correct answer: D.
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: NCERT Class 10 Understanding Economic Development, Ch 3 "Money and Credit"_
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