Objectives of nationalisation of banks:

• To generate public confidence in banking system of the country.
• To prevent concentration of economic power in few hands.
• To prevent the use of bank funds for anti-social activities.
• To mobilize national savings and to channelize them into productive purposes.

A resume objective is a top part of a resume that states your career goals and shows why you are applying for the job. To write a resume objective, mention the job title you’re applying for, add 2–3 key skills, and say what you hope to achieve in the job. Keep it 2 to 3 sentences long. Why do you need it?

Process of Bank Nationalization. It could be expressed as a process whereby the National government or the state becomes empowered to take over the private industry, organization or even the assets into their ownership i.e. public ownership through any legislation or an ordinance or any kind of order.

The main objective of nationalization was to attain social welfare. Sectors such as agriculture, small and village industries were in need of funds for their expansion and further economic development. It helped to curb private monopolies in order to ensure a smooth supply of credit to socially desirable sections.

Bank have been nationalised for fulfilling various socio-economic objectives. 1. To mobilise savings of the people to the maximum possible extent and utilise them for pro­ductive purposes; 2. To ensure prompt operations of the bank­ing system for a larger social purpose and subject it to close public regulation;

The 50 th anniversary of the nationalisation of banks can be a good occasion to systematically analyse the current performance of the PSBs and the necessary steps can be taken to improve the banking sector. There are some obvious negative consequences that should be looked into for the future growth of India’s banking system.

More significant than the increase in bank credit are the changes in sectoral development. In the pre-nationalisation period, large and medium industries as also whole­sale trade accounted for more than 79% of total commercial bank credit.

Nationalization of 6 more banks in April 1980. At present, there are 27 commercial banks in public sector. Out of these, 19 banks are nationalized. There are 297 scheduled banks (including foreign banks) and one non scheduled bank at the end of December 2000.