In April 1980, ____ banks were nationalized in India?

a. 3

b. 5

c. 6

d. 7

ANSWER: 6

Explanation:

In 1980, to provide government more power and command over credit delivery, six commercial banks in India were nationalized.

• Andhra Bank
• Corporation Bank
• Oriental Bank of Commerce
• New Bank of India
• Vijaya Bank
• Punjab and Sind Bank
• Additionally, in 1993, New Bank of India merged with Punjab National Bank (PNB).