Fifty Years of Bank Nationalization: Phase Wise Policy and Progress of Indian Banking

Abstract

In India, Nationalisation of 14 Commercial banks in 1969 was a landmark so far as Indian economy is concerned for many many reasons. Many rounds of debates took place that provided a plethora of issues on the success or otherwise of the historic move. Nevertheless, Indian Banking System over the post nationalisation period revolves around the public sector banks. In 2019, we are going to complete 50 years of bank nationalisation. In this context, present study is to describe the phase-wise developments of Indian commercial banking along with an evaluation since 1969 to till date and to highlight the phase wise goals, related measures for that goal and achievements with critical issues.