What do you understand by the nationalisation of banks?

1.	What do you understand by the nationalisation of banks?
Answer» After independence, the people started thinking on the lines of nationalisation, for overcoming the problems and defects of the trade and industries. The banking institutions were one of them, which despite social control could not satisfy the needs of the people. The development of banks was very erratic and the Indian money market was not organised. The Indian commercial banks did not open their branches in rural areas of provided loans only to big industrialist and businessmen. The really needy persons such as farmers, cottage and small industries, artisans etc. were deprived of this facility. Because of all these problems, the demand for nationalisation of banks became greater. The demand for nationalisation the banks was intensified, with the nationalisation of Imperial Bank.

Answer»

After independence, the people started thinking on the lines of nationalisation, for overcoming the problems and defects of the trade and industries. The banking institutions were one of them, which despite social control could not satisfy the needs of the people. The development of banks was very erratic and the Indian money market was not organised.

The Indian commercial banks did not open their branches in rural areas of provided loans only to big industrialist and businessmen. The really needy persons such as farmers, cottage and small industries, artisans etc. were deprived of this facility. Because of all these problems, the demand for nationalisation of banks became greater. The demand for nationalisation the banks was intensified, with the nationalisation of Imperial Bank.

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