Indian-Economy
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Q.

The number of banks nationalized in 1969 were:

 A.

9

 B.

14

 C.

22

 D.

35

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Solution:
Option(B) is correct

By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy.  

The Government of India issued an ordinance ('Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969') and nationalised the 14 largest commercial banks with effect from the midnight of 19 July 1969.


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