Multiple choice

How many Banks were first nationalized?

  1. 10

  2. 12

  3. 14

  4. None
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

On July 19, 1969, the Government of India nationalized 14 major banks with deposits exceeding Rs. 50 crores. Option C is correct as this first phase of nationalization included 14 banks. The second phase in 1980 nationalized 6 more banks, making the total 20 nationalized banks.

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