Topic: Bank nationalisation

If banks were to be nationalised, politicians would start interfering with bank officials and put undue pressure on them, Prof Shroff wrote in 1963.

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.

When it comes to presidential elections changing the course of politics and economy, the impact of the 1969 contest continues to remain unparalleled.

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.

For a leader, the ability to take decisions speedily is a virtue but equally important is to weigh in the possible consequences.

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.

In Morarji Desai: A Profile in Courage, Arvindar Singh writes about how 1969 was a turning point in Morarji’s life and in the history of India.

The day after Indira Gandhi nationalised banks, R.C. Cooper air dashed to New Delhi to challenge the ordinance.