Question

Fourteen commercial banks were nationalised in ________.

• A. 1947
• B. 1969
• C. 1950
• D. 1980

Answer 1

Answer: (B)

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