Nationalization of Banks in India Quiz

When did India nationalize its fourteen private sector banks?

• 1st February 1969

• 9th July 1969

• 23rd December 1967

• 19th July 1969

Who submitted the report recommending nationalization of banking and insurance in 1948?

• Reserve Bank of India

• Planning Commission

• Economic Programme Committee

• All-India Congress Committee

What was the name of the draft bill proposed for social control over banks in 1967?

• Banking Laws (Amendment) Bill 1967

• Banking Regulation Act 1949

• State Bank of India Act 1955

• Reserve Bank of India Act 1934

Who assumed the portfolio of Finance ministry to drive the agenda of bank nationalization effectively?

• Y.B. Chavan

• Jagjivan Ram

• Indira Gandhi

• Lal Bahadur Shastri

When were the fourteen major banks nationalized in India?

• 23rd December 1967

• 1st February 1969

• 20th July 1969

• 19th July 1959

Who was the acting President of India when the fourteen major banks were nationalized?

• Lal Bahadur Shastri

• Indira Gandhi

• Fakhruddin Ali Ahmed

• V.V. Giri

What was the name of the committee set up to study the organization and structure of banking?

• Planning Commission

• Banking Commission

• Economic Programme Committee

• Industrial planning and licensing policy committee

Who was considered as the leader of the 'syndicate' in the Congress party?

• Jagjivan Ram

• Indira Gandhi

• Lal Bahadur Shastri

• Y.B. Chavan

What was the name of the minister for Industrial development who suggested nationalization of major banks to Indira Gandhi?

• V.V. Giri

• Fakhruddin Ali Ahmed

• Lal Bahadur Shastri

• Y.B. Chavan

Who was the Prime Minister of India during the Indo-Pakistan war in 1965?

• V.V. Giri

• Fakhruddin Ali Ahmed

• Lal Bahadur Shastri

• Indira Gandhi