- The nationalization of major commercial banks in India occurred in 1969 and 1980. - The legal framework for these nationalized banks is provided by the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980. - Changes to the structure or ownership of these banks require amending these acts.
Which of the following statements is/are correct regarding amendments to the public sector banks?
Asked in GPSC Prelims CSP 2 2021 · Topic: The Parliamentary Act (Legislative Procedures (Ordinary, Money, Financial, Constitutional Amendment Bills))
More Indian Polity and Governance questions
- Which of the following statements are correct regarding the Essential Commodities Act? 1. The Essential Commodities Act was first passed in 1955 and then government passed Essential Commodities (Amendment) Act 2020. 2. In March 2020, the Union Government brought masks and hand sanitizers under this Act. 3. The purpose of this Act is to check hoarding and black marketing. 4. Under this Act, the government can also fix Maximum Retail Price (MRP) of any packed product that it declares as essential commodity.
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