On 29 July 1969, Prime Minister Indira Gandhi delivered a speech in Lok Sabha on the nationalisation of 14 banks, saying the move was 'totally justified to ensure that hopes and aspirations of millions of our people are not sacrificed'.
On 25 July 1969 in Lok Sabha, Rajkot MP Minoo Masani listed the economic and political grounds on which his Swatantra Party opposed the Indira Gandhi government's Bill to nationalise private banks.
In 'Untold Story of India's Finance Ministers’, AK Bhattacharya looks back at major economic policy shifts, a stock market scandal, devaluation of the rupee and more.
Over half a century since Indira Gandhi nationalised 14 public sector banks, move still evokes sharp divisions, with some criticising it as a failure and others hailing it as a landmark decision.
In episode 526 of ThePrint's Cut The Clutter, Editor-in-Chief Shekhar Gupta discusses the bank nationalisation move on its 51st anniversary, and looks at the political history around it.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
Long live Prof Shroff, death to socialism.