<P> In 1960 , the State Banks of India was given control of eight state - associated banks under the State Bank of India ( Subsidiary Banks ) Act , 1959 . These are now called its associate banks . In 1969 the Indian government nationalised 14 major private banks , one of the big bank was Bank of India . In 1980 , 6 more private banks were nationalised . These nationalised banks are the majority of lenders in the Indian economy . They dominate the banking sector because of their large size and widespread networks . </P>
<P> In 1960 , the State Banks of India was given control of eight state - associated banks under the State Bank of India ( Subsidiary Banks ) Act , 1959 . These are now called its associate banks . In 1969 the Indian government nationalised 14 major private banks , one of the big bank was Bank of India . In 1980 , 6 more private banks were nationalised . These nationalised banks are the majority of lenders in the Indian economy . They dominate the banking sector because of their large size and widespread networks . </P>
when was commercial bank first nationalised in india
when was commercial bank first nationalised in india
1969
1969