What are the 14 nationalised banks?
In July 1969, the Government of India took a historic step by nationalizing 14 major commercial banks that held over 80 percent of the country's bank deposits. The primary objective was to align the banking sector with socialistic development goals, expand banking infrastructure into neglected rural and semi-urban areas, and direct credit toward agriculture and small-scale industries. These foundational fourteen institutions were Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Dena Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Syndicate Bank, Union Bank of India, United Bank of India, and UCO Bank. Over subsequent decades, structural consolidations, mergers, and public sector reforms have integrated several of these historic entities into larger anchor public sector banks.
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