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Standard XII
Business and Commercial Knowledge
Question
Fourteen commercial banks were nationalised in ________.
1947
1969
1950
1980
A
1947
B
1980
C
1969
D
1950
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Solution
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National banks refer to the banks owned by the government of India.
Reasons for nationalization being:
The removal of control by a few
Provision of adequate credit facilities to agriculture, small industry and exports
The giving of professional bent to bank management
The encouragement of new classes of entrepreneurs
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