Question : The nationalization of banks in India took place during the tenure of:
Option 1: Indira Gandhi
Option 2: Jawaharlal Nehru
Option 3: Rajiv Gandhi
Option 4: Morarji Desai
Correct Answer: Indira Gandhi
Solution : The correct answer is (a) Indira Gandhi.
The nationalization of banks in India took place during the tenure of Prime Minister Indira Gandhi. In 1969, Indira Gandhi's government nationalized 14 major commercial banks in India, with the aim of increasing government control over the banking sector and promoting social welfare objectives. This move was seen as a step towards achieving socialistic goals and expanding access to banking services for the masses. It was a significant development in India's economic and financial history.
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