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In India how many banks were nationalized on 1969?

  • In India 14 banks were nationalized on 1969.
  • In India, 14 banks were nationalized on July 19, 1969, by the government under the leadership of then-Prime Minister Indira Gandhi.
  • The nationalization was done to increase government control over the banking sector and to promote the idea of social welfare.
  • The banks that were nationalized at that time included some of the largest commercial banks in the country, such as the Bank of India, Canara Bank, Central Bank of India, Punjab National Bank, and others.