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Which of the following banks were nationalized in 1980?
- a)Andhra Bank
- b)Vijaya Bank
- c)Corporation Bank
- d)All the above
Correct answer is option 'D'. Can you explain this answer?
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Which of the following banks were nationalized in 1980?a)Andhra Bankb)...
The other 3 banks are Punjab and Sind Bank, New bank of India and Oriental Bank of Commerce.
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Which of the following banks were nationalized in 1980?a)Andhra Bankb)...
Nationalization of Banks in 1980
Nationalization of banks in India took place in two phases - first in 1969 and then in 1980. In 1980, the government of India nationalized six more banks to further strengthen the banking sector and promote financial inclusion.
Andhra Bank
- Andhra Bank was one of the banks that were nationalized in 1980.
- This move aimed to increase the outreach of banking services to rural areas and promote economic growth.
Vijaya Bank
- Vijaya Bank was another bank that was nationalized in 1980.
- The nationalization of Vijaya Bank was part of the government's efforts to ensure the availability of financial services to all sections of society.
Corporation Bank
- Corporation Bank was also nationalized in 1980.
- The nationalization of Corporation Bank was a strategic decision to expand the reach of banking services and promote financial stability.
All the above
- Therefore, the correct answer is "All the above" as all three banks - Andhra Bank, Vijaya Bank, and Corporation Bank were nationalized in 1980.
- This move played a crucial role in strengthening the banking sector and fostering economic development in India.
Nationalization of banks in India took place in two phases - first in 1969 and then in 1980. In 1980, the government of India nationalized six more banks to further strengthen the banking sector and promote financial inclusion.
Andhra Bank
- Andhra Bank was one of the banks that were nationalized in 1980.
- This move aimed to increase the outreach of banking services to rural areas and promote economic growth.
Vijaya Bank
- Vijaya Bank was another bank that was nationalized in 1980.
- The nationalization of Vijaya Bank was part of the government's efforts to ensure the availability of financial services to all sections of society.
Corporation Bank
- Corporation Bank was also nationalized in 1980.
- The nationalization of Corporation Bank was a strategic decision to expand the reach of banking services and promote financial stability.
All the above
- Therefore, the correct answer is "All the above" as all three banks - Andhra Bank, Vijaya Bank, and Corporation Bank were nationalized in 1980.
- This move played a crucial role in strengthening the banking sector and fostering economic development in India.
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Which of the following banks were nationalized in 1980?a)Andhra Bankb)Vijaya Bankc)Corporation Bankd)All the aboveCorrect answer is option 'D'. Can you explain this answer?
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Which of the following banks were nationalized in 1980?a)Andhra Bankb)Vijaya Bankc)Corporation Bankd)All the aboveCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following banks were nationalized in 1980?a)Andhra Bankb)Vijaya Bankc)Corporation Bankd)All the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following banks were nationalized in 1980?a)Andhra Bankb)Vijaya Bankc)Corporation Bankd)All the aboveCorrect answer is option 'D'. Can you explain this answer?.
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