Question

How many banks were nationalised by the Government of India in the year 1980?
1. Six
2. Seven
3. Five
4. Eight

Answer 1

Correct Answer - Option 1 : Six

The correct answer is Six.

• Six Indian banks were nationalized on 15th April 1980.
• Nationalization is the transfer of ownership and management of an undertaking from private hands to the states.
• Banks were nationalized in India through an ordinance passed in the year 1969.
• Indira Gandhi was the first prime minister who nationalized banks in India the first nationalization of the bank took place on 19th July 1969.
  • 14 banks were nationalized in 1969.
  • It was based on the banks who deposit exceeds rupees 50 crores.
• The second time government nationalized bank on 15th April 1980. 
  • 6 banks were nationalized in 1980.
  • it was based on the banks whose deposits exits rupees 200 crores.

•  About Reserve Bank Of India
  • ​Headquarters: Mumbai
  • Bank rate: 4.25%
  • Repo Rate: 4%
  • Founded: 1 April 1935, Kolkata
  • Governor: Shaktikanta Das