Question

Who Nationalised banks in India?

• A. Rajiv Gandhi
• B. Indira Gandhi
• C. Sanjay Gandhi
• D. Sonia Gandhi

Hint:

Remember the two key years for bank nationalization in India: 1969 (14 banks) and 1980 (6 banks), both under Indira Gandhi's government. This is a crucial topic in Indian economic history.

Answer 1

The Correct Option is B

Step 1: Understanding the Concept:
The question asks to identify the Indian leader responsible for the nationalization of banks. This was a major economic policy decision in post-independence India.
Step 2: Detailed Explanation:
The nationalization of banks in India occurred in two phases under the prime ministership of Indira Gandhi.
- Phase 1 (1969): On July 19, 1969, the Government of India issued an ordinance and nationalised the 14 largest commercial banks in the country.
- Phase 2 (1980): In 1980, the government nationalised another six banks.
This policy was aimed at giving the government more control over credit delivery to promote economic development and serve the needs of sectors like agriculture and small-scale industries. The other individuals listed were not in power during these events.
Step 3: Final Answer:
Indira Gandhi was the Prime Minister who led the nationalization of banks in India. Therefore, option (B) is correct.