MCQ ON IMPORTANCE OF BANKING IN BUSINESS
Banking and Financial Institutions MCQ Quiz - Objective Question with Answer for Banking and Financial Institutions Last updated on Oct 30, 2024 Latest Banking and Financial Institutions MCQ Objective Questions Banking and Financial Institutions Question 1: Bank nationalisation entails placing the banks under the control of the government. Following nationalisation, banks are subject to the Banking Regulation Act of 1949. How many banks were nationalized in India on 15th April 1980? 4 5 6 More than one of the above None of the above. exams Under One Roof Answer (Detailed Solution Below) Option 3 : 6 Banking and Financial Institutions Question 1 Detailed Solution The correct answer is 6. Key Points Six Indian banks were nationalized on 15 th April 1980. Nationalization is the transfer of ownership and management of an undertaking from private hands to the states. Banks were nationalized in India through an ordinance passed...