WebJul 17, 2024 · 50 years ago, the Indian financial sector underwent a tectonic shift, when Indira Gandhi government nationalized the 14 biggest commercial banks in 1969. … WebThe ‘Reserve Bank Of India’ started in 1935. According to the State Bank of India Act, 1959 the ‘State Bank Of India’ was given under the supervision of 8 connected banks. In 1969, 14 major private banks nationalized including the ‘Bank of India’. In 1980, 6 more banks were nationalized. The ‘Allahabad Bank’ started in 1865.
New Generation of Banking Reforms - Drishti IAS
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Indian financial system: Commercial Banking system
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