Bank nationalisation: what led to the historic step in 1969?
By Santosh Koshy Joy • 22/07/2019 at 12:31PM
A landmark decision which changed the course of Indian banking
India commemorates 50 years of bank nationalisation this month. The radical exercise that began on July 19, 1969 by the then Prime Minister Indira Gandhi was necessitated due to huge cash crunch to fulfill the socio-economic objectives of the government, says C H Venkatachalam, General Secretary of All India Bank Employees Association (AIBEA)
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