ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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BANKING- Other Times, Other Concerns

Other Times, Other Concerns IT is 10 years since the nationalisation of the 14 major banks. If the political forces responsible for the nationalisation had been in power today, there would undoubtedly have been much fanfare about the achievements of a decade of nationalisation and the Reserve Bank and the nationalised banks would have most enthusiastically joined in the celebrations. But since these forces are not in power, there is total silence on the subject all round. Even the Reserve Bank's latest Report on the Trends and Progress of Banking in India, 1978-79 (July-June) treats the tenth anniversary of bank nationalisation as a non-event. Except for one 10-line paragraph on page 4, dealing with the opening of 21,900 branches since nationalisation and related issues, the Report makes no mention of bank nationalisation.

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