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.
Phase 1:
- Prime Minister : Indira Gandhi
- Financial Minister : Indira Gandhi
- President : VV Giri
- RBI governor : LK Jha
- Five year plan : 4
In the phase Nation Banks were:
- Indian Overseas Bank
- Canara
- Punjab National Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Indian Bank
- Central Bank of India
- Dena Bank
- Syndicate Bank
- Union Bank
- United Bank of India
- UCO Bank
- Allahabad Bank
