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Nationalised banks

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 November 2014 Sir,
I want to know that how thw banks are being nationalised in India? Also, What are the adavantages for a bank to be converted into nationalised bank?
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Amol S Joglekar

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Amol S Joglekar (Expert)
14 November 2014 in July 1969, Govt took the decision of nationalising 14 major banks in the country, followed by another 6 banks in 1980. The criterion used by the Govt was the concentration of economic power and wealth in the hands of few big industrial houses.
After liberalisation, this fear has lost its identity in India.
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