Banking revolution changed economic landscape
Nationalisation of private banks (July 19, 1969)
Chandigarh, Updated At : 05:56 AM Jul 19, 2025 IST
On July 19, 1969, India witnessed a landmark moment in its economic history when 14 major private banks were nationalised by the government led by Prime Minister Indira Gandhi. This bold and controversial step marked a turning point in India’s development trajectory, shifting the control of significant financial resources from private hands to the public sector.
