General Knowledge - Indian Economy - Discussion

Discussion :: Indian Economy - Indian Economy (Q.No.7)

7. 

In the second nationalization of commercial banks, ___ banks were nationalized.

[A]. 4
[B]. 5
[C]. 6
[D]. 8

Answer: Option C

Explanation:

No answer description available for this question.

Amit Kumar Bose said: (Jul 10, 2010)  
1st phase of nationalisation is 14 banks & In 2nd phase it will be 6 banks.

P S said: (Nov 30, 2010)  
There were 7 banks.

Prasad said: (May 11, 2011)  
What are those banks? please name them.

Sonu said: (May 30, 2011)  
Pnb, allahbad bank, andra bank, Indian bank, bank of india, bank of baroda.

Balram Tiwari said: (Jun 3, 2011)  
Please tell me which bank become first?

Manoj said: (Jun 16, 2011)  
The first nationalization SBI Bank

Sanjan Kumar Behera said: (Jul 6, 2011)  
IN 2N PHASE 6 NATIONALISED BANK BOI,BOB.ALLABAD BANK ICICI,IDIANBANK ANDHRA BANK

Amol Vaidya said: (Jul 21, 2011)  
Hi, Correct Answer is ----
1. ANDHRA BANK
2. NEW BANK OF INDIA
3. CORPORATION BANK
4. ORIENTAL BANK OF COMMERCE
5. PANJAB AND SINDH BANK
6. VIJAYA BANK

Debika said: (Sep 3, 2011)  
How many nationalization were done till now?

Farhan said: (Sep 4, 2011)  
Oriental bank of commerce is nationalised bank or private bank? I think obc is private bank.

Ramya said: (Sep 7, 2011)  
Nationalizaton of banks started in 1955, with sbi being the first bank to be nationlsed. Then in 1960, its seven subsidiaries (now six) were also nationlised. At present, the 27 nationlised banks are (remember state bank of saurastra is now merged with sbi) Allahabad Bank.

Andhra Bank.
Bank of Baroda.
Bank of India.
Bank of Maharashtra.
Canara Bank.
Central Bank of India.
Corporation Bank.
Dena Bank.
Indian Bank.
Indian Overseas Bank.
Oriental Bank of Commerce.
Punjab and Sind Bank.
Punjab National Bank.
State Bank of Bikaner & Jaipur.
State Bank of Hyderabad.
State Bank of India (SBI).
State Bank of Indore.
State Bank of Mysore.
State Bank of Patiala.
State Bank of Saurashtra.
State Bank of Travancore.
Syndicate Bank.
UCO Bank.
Union Bank of India.
United Bank of India.
Vijaya Bank.
IDBI Bank.

Shipra said: (Oct 15, 2011)  
@ramya.

The name of all bank which you have writen above are all nationalised bank please clear me.

Shilpa said: (Nov 14, 2011)  
Yes. Ms. Shipra. Every bank that is running in India is Nationalized.

Avi_06184 said: (May 7, 2012)  
You both are right, these all are nationalized bank.

Sanjay Marwal said: (May 12, 2012)  
@Ramya.
You are right that there are 27 nationalized banks in India but the last bank in the list which is "IDBI Bank" is a private bank. So the 1 you missed is Allahabad bank and rest all are right.

Neelam said: (Jul 9, 2013)  
Yes, IDBI is a private sector bank.

Reehas said: (Jul 30, 2013)  
Now federal bank also nationalised.

Vijay Kumar said: (Aug 12, 2013)  
Nationalisation took place in two phases, with a first round in 1969 covering 14 banks followed by another in 1980 covering 7 banks. Currently there are 27 nationalised commercial banks.

Archana Wavhal said: (Sep 8, 2013)  
Is the OBC Bank private?

Vivek said: (Sep 27, 2013)  
@Ramya, at present there are 5 subsidiary/associate banks of SBI and SBI has also said that it will consider merger of five associate banks in the second quarter of fiscal.

Raj Kumar said: (Dec 1, 2013)  
Yes I also know that IDBI bank is a private bank of India.

Pravalika said: (Jan 25, 2014)  
What qualities are required to banks to be nationalized?

Please give me answer to it.

Biplab Biswas said: (Jan 30, 2014)  
What are the 1st nationalized bank in India?

Deep said: (Jan 31, 2014)  
RBI is the 1st nationalized bank in India.

Surya said: (Feb 17, 2014)  
What are those bank? please tell me correct bank name.

Deepika said: (Mar 26, 2014)  
ICICI bank is not nationalised bank because it is private bank.

Vipan Kumar said: (Apr 5, 2014)  
What are the 1st nationalized bank in india?

Divyesh Gandhi said: (May 25, 2014)  
Please Check on internet 1ST nationalizes Bank is Panjab National Bank, 1895.

Poonam said: (Jul 19, 2014)  
Which was first Nationalized bank? I have confused in RBI & SBI reply fast.

Ashok said: (Jul 26, 2014)  
Nationalization is the process of taking a private industry or private assets into public ownership by a national government or state.

Sikta said: (Jul 29, 2014)  
SBI is the 1st nationalized bank in India in 1st july 1955.

Santosh said: (Sep 13, 2014)  
After independence the Government of India(GOI) adopted planned economic development for the country(India). Accordingly, five year plans came into existence since 1951. This economic planning basically aimed at social ownership of the means of production. However, commercial banks were in the private sector those days.

In 1950-51 there were 430 commercial banks. The Government of India had some social objectives of planning. These commercial banks failed helping the government in attaining these objectives. Thus, the government decided to nationalize 14 major commercial banks on 19th July, 1969.

All commercial banks with a deposit base over Rs.50 crores were nationalized. It was considered that banks were controlled by business houses and thus failed in catering to the credit needs of poor sections such as cottage industry, village industry, farmers, craft men, etc. The second dose of nationalization came in April 1980 when banks were nationalized.

Pawan said: (Sep 23, 2014)  
Dear all for yours kind information India first nationalize bank is RBI on 1 Jan 1949.

Pawan said: (Sep 23, 2014)  
Last nationalize bank is Bharatiya Mahila Bank Ltd. As on date 23/09/14 number of nationalized banks is 21.

Kavita said: (Oct 8, 2014)  
Is j&k bank nationalized?

Revathy said: (Dec 25, 2014)  
RBI nationalized: 01/01/1949.

SBI nationalized: 01/07/1955.

Srinivasa said: (Jan 8, 2015)  
I have confused, please answer me now how many banks are nationalized.

Neha said: (Feb 17, 2015)  
Which one is the second most nationalised bank?

Ajit said: (Mar 24, 2015)  
Please tell me that how many bank are total nationalized and which bank is 1st nationalized, and also answer me that how many private bank in India, and which bank is largest in India?

Abhay Jaiswal said: (Apr 28, 2015)  
State bank of India since 1960 is first nationalized bank of India.

Firoz Khan said: (Jul 28, 2015)  
27 bank is nationalized in India today.

Dhanaraj said: (Aug 5, 2015)  
IDBI is not a nationalized bank.

Navneet said: (Oct 20, 2015)  
IDBI Bank is a Public Sector Bank. But not a Nationalized bank. Approximately 80% stake held by government.

Swetha said: (Oct 22, 2015)  
Which bank is largest bank in India and were is it please answer for this question?

Dheeraj said: (Dec 7, 2015)  
SBI is the largest bank of India and It is also Largest in the world as per the no of branches.

G P Kumar said: (Feb 21, 2016)  
RBI is the first nationalized bank?

G P Kumar said: (Feb 21, 2016)  
In 1960, the State Banks of India was given control of eight state-associated banks under the State Bank of India (Subsidiary Banks) Act, 1959. These are now called its associate banks. In 1969 the Indian government nationalised 14 major private banks. In 1980, 6 more private banks were nationalised.

27 nationalized banks in India right now.

Madang Kanor said: (Feb 24, 2016)  
First of all nationalised RBI on 1.1.1949 after it SBI stabilised on 1.7.1955 and 14 banks nationalised on 19 July 1969 in first phase & 6 Banks nationalised on April 1980. Total of these 20. So 7 banks are when nationalised?

Kamar said: (Apr 11, 2016)  
What is the full-form of ICICI?

Indu said: (Apr 17, 2016)  
Industrial Credit Investment Corporation of India is the full form of ICICI.

Usha said: (Apr 17, 2016)  
Hi, @ Kamar.

ICICI - Industrial Credit Investment Corporation of India.

Athira said: (Nov 14, 2016)  
I also know that RBI is the first nationalized bank in India. It is in 1949 January 1.

Gowtham said: (Dec 5, 2016)  
IDBI and OBC are nationalised bank.

Pedapudi Vijaya Kumar said: (May 3, 2017)  
At frist time based on the recommendations of Hazare committee 14 banks were nationalised in 1969, second time in 1982 again nationalisation of banks was happend in which 6 banks were nationalised.

Shrishail Hallur said: (May 16, 2017)  
6 NATIONAL BANKS.

Janhavi D Patel said: (Apr 25, 2018)  
Thank you all for sharing the useful information.

Anup said: (Apr 5, 2019)  
Phase 2 nationalised banks are:

Punjab and Sind Bank.
Vijaya Bank.
Oriental Bank of India.
Corporate Bank.
Andhra Bank.
New Bank of India.

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