GA Questions on Nationalisation of 14 Banks in 1969

The nationalisation of 14 banks in 1969 was a very important event in India’s banking history. It changed how banks worked and helped bring banking services to poor and rural people. Many exams and interviews ask questions about this topic. In this article, we will look at some simple and useful general awareness questions related to this important decision.

GA Questions About Nationalisation of 14 Banks in 1969

The nationalisation of 14 major banks in 1969 was a big step in India’s financial history. It helped improve banking for everyone, especially in rural areas. Let’s know more about the nationalisation of banks through the given general awareness questions based on it.

Q1. In which year was the Reserve Bank of India nationalised?

(a) 1955

(b) 1960

(c) 1949

(d) 1969

S1. Ans. (c)

 

Q2. How many SBI associate banks were brought under state ownership in 1960?

(a) 5

(b) 6

(c) 7

(d) 8

S2. Ans. (c)

 

Q3. Who was the Prime Minister of India during the 1969 bank nationalisation?

(a) Jawaharlal Nehru

(b) Rajiv Gandhi

(c) Lal Bahadur Shastri

(d) Indira Gandhi

S2. Ans. (d)

 

Q3. What was the minimum deposit size of the banks nationalized in 1969?

(a) Rs.10 crore

(b) Rs.25 crore

(c) Rs.50 crore

(d) Rs.100 crore

S3. Ans. (c)

 

Q4. Which act brought the SBI associate banks under its umbrella in 1960?

(a) SBI (Subsidiary Banks) Act

(b) Banking Regulation Act

(c) RBI Act

(d) Bank Nationalisation Act

S4. Ans. (a)

 

Q5. What was one major reason for bank nationalisation in 1969?

(a) To increase exports

(b) To encourage foreign banks

(c) To serve national development goals

(d) To reduce government control

S5. Ans. (c)

 

Q6. Before 1969, which sector received the most bank credit?

(a) Agriculture

(b) Industries

(c) Education

(d) Healthcare

S6. Ans. (b)

 

Q7. Which was the first large commercial bank under state control?

(a) Indian Bank

(b) Bank of Baroda

(c) State Bank of India

(d) Union Bank

S7. Ans. (c)

 

Q8. How many banks were nationalised in the first wave in 1969?

(a) 10

(b) 12

(c) 13

(d) 14

S8. Ans. (d)

 

Q9. Which bank was transformed into the State Bank of India in 1955?

(a) Punjab National Bank

(b) Imperial Bank of India

(c) Canara Bank

(d) Indian Bank

S9. Ans. (b)

 

Q10. What was the main focus of nationalised banks after 1969?

(a) Urban development

(b) Import-export trade

(c) Rural credit and inclusion

(d) Stock markets

S10. Ans. (c)