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.
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.
Fifty years ago, on 19 July 1969, the Indira Gandhi government had nationalised 14 banks. Even today, PSUs control a substantial percentage of the deposits.
By turning a blind eye to the snakes in his own backyard, Trudeau is setting the stage for a disaster of epic proportions for his country, his people, and the world at large.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
While there are patrolling points (PP) 10, 11, 12, 12A and 13 in the Depsang Plains, the patrol in the region Monday was carried out to only one point as decided by India and China.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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