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Which among the following banks was not nationalized in 1969?
Question



Which among the following banks was not nationalized in 1969?

A.

Andhra Bank

B.

United Bank of India

C.

Allahabad Bank

D.

Bank of India

Correct option is A


The correct answer is Andhra Bank.
On 19th July 1969, a major process of nationalization was carried out and 14 major commercial banks in India were nationalized.
The following banks were nationalized in 1969:
1. Allahabad Bank
2. Bank of Baroda
3. Bank of India
4. Bank of Maharashtra
5. Canara Bank
6. Central Bank of India
7. Dena Bank
8. Indian Bank
9. Indian Overseas Bank
10. Punjab National Bank
11. Syndicate Bank
12. UCO Bank
13. Union Bank of India
14. United Bank of India
Information Booster
Reasons responsible for the nationalization of banks were:
· Social welfare
· Controlling private monopolies
· Expansion of banking to rural areas
· Reducing regional imbalance to curb the urban-rural divide
· Priority Sector Lending

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