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Banking awareness study material – Nationalized and Liberalization Full detials

Nationalized and Liberalization awareness:

Hope you check our previous article about banking history on our website. Now here we are again back with some valuable information about nationalized and liberalization. So those students are going to participating in IBPS PO, IBPS Clerk, IBPS RRB, SBI PO and SBI Clerk exam must read this article very carefully. In this article, you can check full details Nationalized and Liberalization. Nationalized and Liberalization is most important topics for bank exam.

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Important point about Nationalized and Liberalization:

Nationalized banking history:

  1. In our country, the banking sector has been controlled by government of India and Public Sector bank from last 64 years.
  2. The Main history of nationalized bank was raised in mid of 20th century.
  3. Imperial bank of India was nationalized under SBI act of 1955 and baptized as state bank of India in July 2015.
  4. After that on 19th July 1960, Seven Subsidiaries were also named as nationalized with credit over 200cr.
  5. These seven subsidiaries were named as State bank of Bikaner and Jaipur (SBBJ), state bank of Hyderabad (SBH), State bank of Indore (SBIR), State bank of Mysore (SBM), State bank of Patiala, state bank of Saurashtra(SBS) and State bank of Travancore(SBT).
  6. The main nationalization was started in 1969 by the Prime-Minister of India, Indra Gandhi.
  7. The major point focus behind nationalization was to speared banking infrastructure in rural areas and make cheap finance provide to Indian farmers.

The 14 major commercial banks were nationalized list mentioned in below.

  • Allahabad bank
  • Andhra bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Canara Bank
  • Central bank of India
  • Corporation bank
  • Dena bank
  • Indian bank
  • Indian overseas bank
  • Oriental bank of Commerce
  • Punjab and Sindh bank
  • Punjab national bank
  • Syndicate bank
  • UCO bank
  • Union bank of India
  • United bank of India
  • Vijaya Bank

8.After that 1969 nationalized bank phase, In the year 1980 the second round of nationalization of Indian bank took place, 7 more banks were also nationalized with deposit 200 cr.

List of Public Sector bank in India:

  • Allahabad bank
  • Andhra bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Canara Bank
  • Central bank of IndiaCorporation bank
  • Dena bank
  • Indian bank
  • Indian overseas bank
  • Oriental bank of Commerce
  • Punjab and Sindh bank
  • Punjab national bank
  • Syndicate bank
  • UCO bank
  • Union bank of India
  • United bank of India
  • Vijaya Bank
  • IDBI bank
  • State bank of Bikaner and Jaipur(SBBJ)
  • State bank of Hyderabad (SBH)
  • State bank of Travancore
  • State bank of India Indore
  • State bank of Patiala
  • State bank of Mysore
  • State bank of Saurashtra

Banking Awarness study material -Liberalization awareness: 

  1. Liberalization in banking sector was started since 1992.
  2. The Liberalization in Indian banking sector was following the narsimhan Committee report.
  3. Narsimhan Committee embarked on policy of liberalization for licensing small number of Private sector banks.
  4. The First bank was established after the adaptation of new liberalization policy in banking sector named as Global trust bank.
  5. Global trust bank was after merged with oriental bank of commerce.

Here we are giving list of banks established after new liberalization policy mentioned in Below:

  • Global Trust bank
  • UTI bank (Axis bank)
  • ICICI bank
  • HDFC Bank

After Indian banking sector were moved toward liberalization along with the rapid growth in India and re-enthusiasm the banking sector in India.

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