Question

The second phase of bank nationalisation took place during which Five Year Plan ?

• A. Sixth five year plan
• B. Fourth Five Year Plan
• C. Fifth Five Year Plan
• D. Seventh Five Year Plan

Answer 1

Answer:

A. Sixth five year plan

Second Phase Bank Nationalization:

• Took place on - 15th April, 1980
• Indira Gandhi nationalized 6 banks with a share capital of Rs.200 crores

During the second phase

• Prime Minister : Indira Gandhi
• Financial Minister : R Venkitaraman
• President : Neelam Sanjeeva Reddy
• RBI Governor : I G Patel
• Five Year Plan : 6

During this time nationalized banks:

1. Punjab and Sind Bank
2. Vijaya Bank
3. New Bank of India
4. Oriental Bank of Commerce
5. Corporation Bank
6. Andhra Bank