Moneycontrol
Get App
you are here: HomeNewsIndia
Last Updated : Jul 19, 2019 06:26 PM IST | Source: Moneycontrol.com

Editor's Take | Millennial's guide to bank nationalisation

The wars with China (1962) and Pakistan (1965); a drought in the years that came next followed by the balance of payments crisis were the factors on the economic front.

Moneycontrol News @moneycontrolcom

Fifty years ago, 14 private sector banks were nationalised by the Indira Gandhi-led government. Although the All India Congress Committee had wanted to nationalise banks and insurance companies as early as 1948, the move wasn't implemented up until 1969.

The wars with China (1962) and Pakistan (1965); a drought in the years that came next followed by the balance of payments crisis were the factors on the economic front. An unstable political climate added to the ongoing severe economic crisis.

Moneycontrol's Deputy Executive Editor Ravi Krishnan decodes the bank nationalisation process for millenials.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.
First Published on Jul 19, 2019 06:26 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant