Nationalisation of 14 Commercial Banks took place in

• About Nationalisation Commercial of Banks:
The Government of India on Nationalised the 14 largest commercial banks on 19 July 1969.
The Nationalisation was done through the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969.
This was the bold decision taken by that time Prime Minister of India Smt Indira Gandhi.
These lenders held over 80 percent of bank deposits in the country.
In, 1980 Another Six Private Banks were Nationalised. At Present, currently, there are 12 Nationalised banks in India.
Till the year 1969, the State Bank of India (SBI) was the only bank that was not Privately Owned, which was called the Imperial Bank before its Nationalisation in the year 1955.