Question

During the first phase of bank nationalisation, Indira Gandhi nationalized --- banks.

• A. 14
• B. 8
• C. 10
• D. 6

Answer 1

Answer:

A. 14

Phase 1 Bank Nationalization:

• Bank nationalization was done by - Indira Gandhi
• The Act passed for bank nationalization : Banking companies acquisition and transfer of property act of 1969
• During the first phase, on 19 July 1969, Indira Gandhi nationalized 14 banks with a share capital of Rs 50 crore.