How many major commercial banks were nationalised in the first round, in July 1969?

SixCorrect answerYour answerEightCorrect answerYour answerFourteenCorrect answerYour answerTwentyCorrect answerYour answer

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CorrectNot quiteAnswer C

Correct answer: C

Fourteen banks were nationalised in July 1969.
A second round in 1980 took six more, making twenty in all.
The figure asked for is almost always one of these two, so the year in the question decides the answer.

Worth noting

The State Bank of India was already in public hands before either round: it was created out of the Imperial Bank of India in 1955.

Ten questions from Indian Economy & Institutions, at your own pace.

Ten questions from Indian Economy & Institutions, at your own pace.

Explanation