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Commercial Banks: Four Years after Nationalisation
Economic and Political Weekly
Vol. 8, No. 29 (Jul. 21, 1973), pp. 1286-1290
Published by: Economic and Political Weekly
Stable URL: http://www.jstor.org/stable/4362870
Page Count: 5
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It is not the differences in operational status which make one question the effectiveness of the nationalisation of banks in 1969. The most important fact is that the 14 banks have been allowed to operate in a manner far removed from the way in which strategic public-sector financial institutions should operate. Nationalisation through parliamentary law and the creation of a separate machinery in the government to supervise the banks have not brought about a substantial change in the field of commercial banking - either in the trends in operation or, more particularly, with regard to inter-bank competition. There is also the telling fact that there is no visible difference between the performance record of the nationalised banks and that of the largest among the non-nationalised banks.
Economic and Political Weekly © 1973 Economic and Political Weekly