Nationalisation of Banks in India 2014 private sector banks,SBI associates Banks

Nationalisation of Banks in IndiaIn her broadcast to the nation on the eve of nationalisation of the fourteen leading Indian banks, she summed up the objectives of the nationalisation as, "The present decision to nationalise major banks is to accelerate the achievements of our objectives.

It was the need of the hour to direct the funds for the needy and required sectors of the indian economy. Sector such as agriculture, small and village industries were in need of funds for their expansion and further economic development.

Prior to nationalisation many banks were controlled by private business houses and corporate families. It was necessary to check these monopolies in order to ensure a smooth supply of credit to socially desirable sections. In a large country like India the numbers of banks existing those days were certainly inadequate. It was necessary to spread banking across the country

it was necessary for banks to go in the rural areas where the banking facilities were not available. In order to reduce this regional imbalance nationalisation was justified

private sector banks

1.     Axis Bank
2.     HDFC Bank
3.     ICICI Bank
4.     UP Agro Bank Corporation
5.     Kotak Mahindra Bank
6.     Yes Bank
7.     IndusInd Bank

1. Indian bank
2.Indian overseas bank
3.Oriental bank of commerce
4.Punjab national bank
5.Punjab and sindh bank
6.Syndicate bank
7.Union bank of india
8.United bank of india
9.UCO bank
10.Vijaya bank
11.Allahabad bank
12.Andhra bank
13.Bank of baroda
14.Bank of India
15.Bank of Maharastra
16.Canara bank
17.Central bank of india
18.Corporation bank
19.Dena bank

19 + SBI + its 5 associates + IDBI = 26.