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How many nationalized banks are there in India?
please mention the various nationalized banks By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. At the same time, it has emerged as a large employer, and a debate has ensued about the possibility to nationalise the banking industry. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalisation." The paper was received with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI issued an ordinance and nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. Jayaprakash Narayan, a national leader of India, described the step as a "masterstroke of political sagacity." Within two weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August, 1969. A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit delivery. With the second dose of nationalization, the GOI controlled around 91% of the banking business of India. Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It was the only merger between nationalized banks and resulted in the reduction of the number of nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.
What is the difference between a nationalised bank and state bank of India?
A Nationalized bank is one that is owned by the government of the country. Since the people decide who the government is, they are also referred to as public sector banks. The government is responsible for the money deposited into the accounts of these banks. A private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals. In short, the bank is owned by someone else and they run the bank. The person owning/running the bank is responsible for the money deposited into the accounts of these banks.
How much amount in cash is the govt of India planning to infuse in public sector banks to strengthen their capital base this year?
14,000 crores
History of regional rural bank?
Regional rural banks were established on 2 oct 1975 under the malegaam committee The share of these bank are in ratio of 50,15 and 35 by central govt,state govt and sponsoring bank resp.
Which govt department helping in disbursement of rural credit by the banks?
NABARD
Are government offices and banks closed on Sundays in India?
yes except for the railways and govt hospitals i am quite sure evrything else is closed if we don't include the political world and the military
Where to get the life certificate form on net for Punjab Government Pensioners?
Live certificate of Punjab govt. pensioners which is to be submitted in Govt. banks
Which Act provided for all India Federation?
Govt. of India act, 1935
What are the districts and Tehsils in India?
Contact Directorate, Public Relation, Govt. of India.
Who issued government securities in India?
Rbi issues the govt securities in India
Why the constitution of India is Republican?
Parliamentary form of govt
Is it right news govt of India closed all distance engineering courses in India?
no
