PSC Examination Expected Questions - 149

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Mashhari March 08, 2014

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Nationalised Banks in India
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The first Nationalisation of banks took place on 19th July 1969 during the tenure of Prime Minister Indiara Gandhi. 14 Banks were nationalised on that time.The second nationalisation took place in 15th April 1980 and six banks were nationalised. Total 14+6 = 20. But in 1993, the New Bank of India was merged with the Punjab National Bank. So at present there are 19 Nationalised banks besides Reserve Bank of India and State Bank of India and its five subsidiaries (State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiyala and State Bank of Travancore) . State Bank of Saurashtra Merge with SBI in 2008 and State Bank of Indore in 2009