NATIONALISATION OF BANKS

NATIONALISATION OF BANKS

• First to be nationalised was RBI on January 1, 1949.
• Nationalisation of lmperial Bank of India and its conversion into State Bank of India in July 1955.
• Conversion of 8 major State-associated banks into subsidiary banks of SBI in 1959.
• Nationalisation of 14 other Indian scheduled banks in July 1969.
• Nationalisation of 6 more banks in April 1980.
• New Bank of India merged with Punjab National Bank in 1993.
• IDBI Bank Ltd be a Nationalized bank.
• Bharatiya Mahila Bank, First Bank for Women's got Nationalized in 2013