The question asks for the specific date when the first major nationalization of commercial banks occurred in India. This is a factual question related to India's economic history, specifically banking reforms.
D) 19 July 1969 is the correct date when 14 major commercial banks in India were nationalized by the government. This move was aimed at aligning banking services with the developmental and social objectives of the nation, ensuring that credit reached priority sectors like agriculture and small-scale industries.
The question asks about the number of commercial banks nationalised in the first phase in India in 1969. This is a factual question related to the history of banking in India.
The nationalisation aimed to align the banking sector with the socialist objectives of the government, ensuring that credit reached priority sectors like agriculture and small-scale industries, rather than being concentrated in a few hands.
Correct Option: D) 14 commercial banks were nationalised in the first phase in 1969.
The question asks about the threshold deposit amount for banks that were nationalised in India in 1969. This is a factual question related to Indian economic history and banking reforms. We need to recall the specific criteria used during that nationalisation.
Correct Option: A) Rs. 50 crore. In 1969, 14 major private commercial banks with deposits exceeding Rs. 50 crore were nationalised by the Indian government. This move was aimed at aligning banking operations with the country's developmental goals, particularly in agriculture and small-scale industries.
The question asks for the date of the second phase of bank nationalisation in India. To answer this, we need to recall the key dates associated with major economic reforms and banking sector changes in India, specifically the two phases of bank nationalisation.
Correct Option: C) 15 April 1980
The second phase of bank nationalisation in India occurred on 15 April 1980, when six more commercial banks were nationalised by the Indian government.
The question asks about the number of banks nationalised during the second phase in India in 1980. This is a factual question related to the history of banking in India.
A) 6 — In the second phase of bank nationalisation, which took place in April 1980, six more commercial banks were nationalised by the Indian government.
The question asks about the criteria for bank nationalisation in India in 1980. This is a factual question related to the history of banking reforms in India. To answer this, one needs to recall the specific deposit threshold set for nationalisation during that period.
A) Rs. 200 crore — In April 1980, the Indian government nationalised six private sector banks that had deposits exceeding Rs. 200 crore. This move was aimed at further expanding the reach of banking services and aligning them with national development goals.