Nationalisation Archives - Centre for Financial Accountability

The first 23 years of Nationalisation and 30 years of Privatisation

The nationalisation of 14 banks on 19th July 1969 was the most desirable and important economic cum social reform in in...

General Random Reflections

Article

Nationalisation of Banks was a historical achievement, and it has to be saved!

Random Reflections Though the government announced two years ago that it is going to privatise two public sector banks, ...

General Random Reflections

Article

Importance of Public Banking System and How the Social Responsibility of Banks is being Diluted

Random Reflections A farmer came to a bank and asked for a loan for cultivation. The branch manager asked for security. ...

Random Reflections

Article

Should Corporates Own Banks?

“It would be difficult to undertake credit planning unless the linked control of Industry and Banks in the hands is snap...

General Random Reflections

Article

Why was the Nationalisation of Banks Necessary?

The Socio-political environment of the second half of 1960s reflected a sense of disenchantment in the growing inequalit...

General Random Reflections

Article

How was Banking in the Private Sector?

There were no public sector banks till 1955. Only on 1st July 1955 Imperial Bank of India was nationalised creating Stat...

General Random Reflections

Article

Challenges Before the Banking Sector Today

The Public Sector Banks have been facing challenges since 1991 with the so-called reform process. Starting from the Nara...

General Random Reflections

Article

Rail privatisation has been a disaster in Britain. Why is India pushing ahead with it?

As talk of privatising the Indian Railways gathers steam, the Narendra Modi government would do well to pay attention...

General Smitu Kothari Fellowship Smitu Kothari Fellowship- 2020

Article

Why Financial Sector Strike?

Banks and Insurance were in the hands of the Private Sector only till 1969. After the nationalisation of banks in 1969 a...

General Random Reflections

Article

Random Reflections; Privatization of Public Sector – Withering of the State?

We just celebrated the 74th Independence day. On the Midnight of 14th August 1947, Pandit Jawaharlal Nehru while addres...

Indian Economy National Financial Institutions Random Reflections

July 21, 2024

Thomas Franco

The first 23 years of Nationalisation and 30 years of Privatisation

The nationalisation of 14 banks on 19th July 1969 was the most desirable and important economic cum social reform in independent India. After 2 days of Nationalisation, Mrs. Indira Gandhi explained to the Parliament the purpose, the expectation and the constitutional mandate.Let’s have a look at th...

General Random Reflections

Article

July 19, 2023

Thomas Franco

Nationalisation of Banks was a historical achievement, and it has to be saved!

Random Reflections Though the government announced two years ago that it is going to privatise two public sector banks, it could not privatise even one so far because of the strong opposition from the United Federation of Bank Unions. Yet, using dubious methods, it has succeeded in reducing the stre...

General Random Reflections

Article

October 3, 2022

Thomas Franco

Importance of Public Banking System and How the Social Responsibility of Banks is being Diluted

Random Reflections A farmer came to a bank and asked for a loan for cultivation. The branch manager asked for security. The farmer said that he doesn’t have any security. The branch manager asked for the land documents, encumbrance certificate, chitta, and legal opinion and finally gave a loan. Aft...

Random Reflections

Article

March 4, 2022

Thomas Franco

Should Corporates Own Banks?

“It would be difficult to undertake credit planning unless the linked control of Industry and Banks in the hands is snapped by Nationalisation of Banks,” said R K Hazari in the R K Hazari Committee’s report on Industrial Planning and Licencing Policy in 1966. This was one of the reasons for Na...

General Random Reflections

Article

May 25, 2021

Thomas Franco

Why was the Nationalisation of Banks Necessary?

The Socio-political environment of the second half of 1960s reflected a sense of disenchantment in the growing inequalities spawned by the development process–a sense which was highlighted by a series of studies such as the reports of monopolies inquiry commission and Mahalanobis committee on distri...

General Random Reflections

Article

May 12, 2021

Thomas Franco

How was Banking in the Private Sector?

There were no public sector banks till 1955. Only on 1st July 1955 Imperial Bank of India was nationalised creating State Bank of India. It is important to know what was banking in our country before Independence. Sutra texts (700-100 BC) and the Buddhist Jatakas (600-400 BC) mention interest payme...

General Random Reflections

Article

April 26, 2021

Thomas Franco

Challenges Before the Banking Sector Today

The Public Sector Banks have been facing challenges since 1991 with the so-called reform process. Starting from the Narasimhan Committee to P.J. Nayak Committee has recommended reducing Government share. They want banks to be government managed without government control. It is privatisation by red...

General Random Reflections

Article

June 10, 2021

Kavita Kabeer

Rail privatisation has been a disaster in Britain. Why is India pushing ahead with it?

As talk of privatising the Indian Railways gathers steam, the Narendra Modi government would do well to pay attention to the experience of the United Kingdom. The UK’s railway system began to develop in the 19th century. It was run primarily by four large companies, all of which were nationalised...

General Smitu Kothari Fellowship Smitu Kothari Fellowship- 2020

Article

May 27, 2021

Thomas Franco

Why Financial Sector Strike?

Banks and Insurance were in the hands of the Private Sector only till 1969. After the nationalisation of banks in 1969 and subsequently in 1980, the outreach of the banking sector changed. Banks became accessible to the common man. The reversal started in 1991. Between 1969 and 1991 the number of br...

General Random Reflections

Article

August 22, 2020

Thomas Franco

Random Reflections; Privatization of Public Sector – Withering of the State?

We just celebrated the 74th Independence day. On the Midnight of 14th August 1947, Pandit Jawaharlal Nehru while addressing the Constituent Assembly in his famous speech, “Tryst with destiny”, underlined that the service of India means the service of the millions who suffer. It means the ending of ...

Indian Economy National Financial Institutions Random Reflections

Article

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Nationalisation

The first 23 years of Nationalisation and 30 years of Privatisation

Nationalisation of Banks was a historical achievement, and it has to be saved!

Importance of Public Banking System and How the Social Responsibility of Banks is being Diluted

Should Corporates Own Banks?

Why was the Nationalisation of Banks Necessary?

How was Banking in the Private Sector?

Challenges Before the Banking Sector Today

Rail privatisation has been a disaster in Britain. Why is India pushing ahead with it?

Why Financial Sector Strike?

Random Reflections; Privatization of Public Sector – Withering of the State?

The first 23 years of Nationalisation and 30 years of Privatisation

Nationalisation of Banks was a historical achievement, and it has to be saved!

Importance of Public Banking System and How the Social Responsibility of Banks is being Diluted

Should Corporates Own Banks?

Why was the Nationalisation of Banks Necessary?

How was Banking in the Private Sector?

Challenges Before the Banking Sector Today

Rail privatisation has been a disaster in Britain. Why is India pushing ahead with it?

Why Financial Sector Strike?

Random Reflections; Privatization of Public Sector – Withering of the State?