Need of banks nationalization:

                The developmental goals of financial intermediation were not being achieved other than for some favoured large industries and established business houses. Whereas industry‚Äôs share in credit disbursed by commercial banks almost doubled between 1951 and 1968, from 34 per cent to 68 per cent, agriculture received less than 2 per cent of total credit. Other key areas such credit to exports and small-scale industries were also neglected. The stated...


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