Question

First phase of Bank nationalization was done by

• A. Indira Gandhi
• B. Rajiv Gandhi
• C. Morarji Desai
• D. Jawaharlal Nehru

Answer 1

Answer:

A. Indira Gandhi

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.