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Question : The nationalization of banks in India took place during the tenure of:

Option 1: Indira Gandhi

Option 2: Jawaharlal Nehru

Option 3: Rajiv Gandhi

Option 4: Morarji Desai


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Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Indira Gandhi


Solution : The correct answer is (a) Indira Gandhi.

The nationalization of banks in India took place during the tenure of Prime Minister Indira Gandhi. In 1969, Indira Gandhi's government nationalized 14 major commercial banks in India, with the aim of increasing government control over the banking sector and promoting social welfare objectives. This move was seen as a step towards achieving socialistic goals and expanding access to banking services for the masses. It was a significant development in India's economic and financial history.

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