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Bank Nationalization Day – July 19
July 22 , 2021
1172 days
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- On this day in 1969, 14 top banks were nationalised in India by the then Prime Minister of India, Indira Gandhi.
- These banks contained 85 percent of bank deposits in the country.
- The stated reason for the nationalization was to give the government more control of credit delivery.
- In 1980, another six more banks were nationalised.
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