Nationalization of banks in India: detailed analysis of schemes & proposals

Since the nationalization of 14 major commercial banks, first by an Ordinance on July 19, 1969, and later by an Act passed by the Parliament on August 9, 1969, the question of bank nationalization in India has become a controversial question. Supreme Court's judgement of Feb. 10, 1970, declaring the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1969, as unconstitutional, added a new turn to this controversy, compelling the Government to issue a fresh Ordinance on Feb. 15, 1970 to revalidate the Nationalization Act. The controversy is presently at its climax, with the Parliament grappling with different constitutional and other issues.
This book attempts to evaluate different schemes and proposals put forward by the Government and other financial bodies to make the nationalised banks a vehicle of efficient financial service to the nation by their meeting adequately the requirments of the priority sectors of the economy. The issue of nationalization has been dealt with primarily from the economic angle, although due reference to political implications has been made side by side.
The book is expected to serve the purpose of the students, research scholars, planners, general readers and the bankers who seek answers to their respective problems.