When did the nationalisation of major banks happen? KBC Croma Answers Today
by J Nandhini | Updated Nov 08, 2023
When did the nationalisation of major banks happen?
The Correct answer is "July, 1969"
India: The major nationalization of banks in India took place on July 19, 1969, when the Government of India nationalized 14 major commercial banks. This was done with the aim of bringing about greater economic and social justice and to address the concentration of wealth in a few hands.
United Kingdom: In the UK, the major nationalization of the banking sector took place in 1946, when the Bank of England was nationalized. This move was part of a broader program of nationalization of key industries and services after World War II.
France: France nationalized its major banks in 1945 after World War II as part of a series of nationalizations of key industries.
Argentina: In Argentina, the government of President Juan Domingo Perón nationalized the Central Bank and commercial banks in 1946.
Nigeria: Nigeria nationalized its major banks in the 1970s and early 1980s as part of a broader effort to indigenize the economy.
Sweden: Sweden nationalized its major banks in the early 1990s during a severe banking crisis.
When did the nationalisation of major banks happen?
July, 1969