The question asks to identify the Prime Minister responsible for the nationalisation of 14 banks in 1969. This is a direct factual recall question related to significant economic policies in India's history.
B) Indira Gandhi — Indira Gandhi, during her tenure as Prime Minister, nationalised 14 major private commercial banks on July 19, 1969. This was a significant economic policy decision aimed at promoting social welfare and economic development.
The question asks for the specific legislation used to nationalise 14 major commercial banks in India in 1969. This is a historical fact related to economic policy in India.
A) Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969. This Ordinance was promulgated on July 19, 1969, by the President of India, nationalising 14 major commercial banks. It was later replaced by an Act of Parliament with the same name.
The question asks about the share of bank deposits held by the 14 banks that were nationalized in India in 1969. This is a factual question related to Indian economic history and banking reforms. To answer this, one needs to recall the historical context and impact of the 1969 bank nationalization.
Correct Option: C) About 85 per cent. The nationalization of 14 major commercial banks in 1969 was a landmark event, bringing approximately 85% of the total bank deposits under government control. This move was aimed at directing credit to priority sectors like agriculture and small industries, which were previously underserved.
The question asks about the percentage of India's banking business controlled by the Government of India after the 1980 nationalisation. This requires knowledge of the history of bank nationalisation in India and its impact on the banking sector's ownership structure.
Correct Option: D) About 91 per cent
The question asks to identify which of the given options was NOT a stated objective of bank nationalisation in India. To answer this, we need to recall the primary goals behind the nationalisation of banks in India, particularly in 1969 and 1980.
B) Maximising private shareholder profits was NOT a stated objective of bank nationalisation. The very act of nationalisation meant shifting ownership from private shareholders to the government, thereby changing the primary goal from private profit to public welfare and socio-economic development.
The question asks for the year in which the Reserve Bank of India (RBI) was nationalised. This is a factual question related to the history of India's central banking system. To answer this, recall the key dates associated with the RBI's establishment and nationalisation.
Correct Option: C) 1949 — The Reserve Bank of India was nationalised on January 1, 1949, making it a state-owned institution.