Nationalization of Banks in India :
According to the Banking Companies act, 1970, the aim of Nationalization of banks in India
is “to ctrl of the heights of the economy and to meet progressively and serve better the needs
Of Development of the economy in conformity with national policy and objectives”.
The elimination of Economic power in the Hands of a few
Diversification of Flow of Bank Economic credit towards priority sectors Such ass Agriculture, Small Industry and exports, Weaker sections and Backward areas.
Professionalization of bank mgt.
To bring Banks Under the Control Of RBI.
Achievements after Nationalizations of Banks :
Accelerated branch Expansion in rural And Backward regions – In 1969 Bank branches in rural areas accounted to only 22.5% of the total number of branches. Today Branches in Rural areas a/c to 52%.
Deposit Mobilization – after nationalization banks attract deposits from different section by means of attractive deposit schemes.
Increase in Total Transactions – The total deposit which was 4,664 Crore in 1969 increased 55.22 Millions.
Profit Making – after nationalization, Banks are making Profits in addition to achieving economic and Social Objectives.
Safety – the Government has given Importance to safety of thee banks.
Development Functions – Progress of agriculture, rural development, industry, trade and other developmental plans of the govt.
Advance under Self Employment Scheme – Banks Play a significant role in promoting self Through Advances to Unemployed through Various Schemes of the govt.
Keywords:
Nationalised Banks why, Banks are change natioanlisation. meaning of bank nationalization
According to the Banking Companies act, 1970, the aim of Nationalization of banks in India
is “to ctrl of the heights of the economy and to meet progressively and serve better the needs
Of Development of the economy in conformity with national policy and objectives”.
The elimination of Economic power in the Hands of a few
Diversification of Flow of Bank Economic credit towards priority sectors Such ass Agriculture, Small Industry and exports, Weaker sections and Backward areas.
Professionalization of bank mgt.
To bring Banks Under the Control Of RBI.
Achievements after Nationalizations of Banks :
Accelerated branch Expansion in rural And Backward regions – In 1969 Bank branches in rural areas accounted to only 22.5% of the total number of branches. Today Branches in Rural areas a/c to 52%.
Deposit Mobilization – after nationalization banks attract deposits from different section by means of attractive deposit schemes.
Increase in Total Transactions – The total deposit which was 4,664 Crore in 1969 increased 55.22 Millions.
Profit Making – after nationalization, Banks are making Profits in addition to achieving economic and Social Objectives.
Safety – the Government has given Importance to safety of thee banks.
Development Functions – Progress of agriculture, rural development, industry, trade and other developmental plans of the govt.
Advance under Self Employment Scheme – Banks Play a significant role in promoting self Through Advances to Unemployed through Various Schemes of the govt.
Keywords:
Nationalised Banks why, Banks are change natioanlisation. meaning of bank nationalization
No comments:
Post a Comment