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Nationalization of major commercial banks in India happened in:
A1969 — 14 major banks nationalized
B1991
C1980
D1956
Answer & Solution
Correct answer: A. 1969 — 14 major banks nationalized
19 July 1969: 14 largest private banks nationalized by PM Indira Gandhi (each with deposits >50 crore). Second round in 1980: 6 more banks nationalized (>200 crore). Aimed to direct credit to priority sectors and reduce private monopoly.
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