Major Nationalisations In India
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1949 : RBI was Nationalised (RBI was state owned at the time of Indian independence).
1953 : Air India was Nationalised under the Air Corporations Act 1953.
1955 : Control of Imperial Bank of India was acquired by RBI. And Imperial Bank of India became the State Bank of India.
1956 : The Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.
1969 : 14 Indian Private Banks were Nationalised.
1972 : 106 Insurance Companies were Nationalised into four Insurance Companies.
1973 : Coal Industry and Oil Companies were Nationalised.
1980 : 6 More Indian Private Banks were Nationalised.
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1949 : RBI was Nationalised (RBI was state owned at the time of Indian independence).
1953 : Air India was Nationalised under the Air Corporations Act 1953.
1955 : Control of Imperial Bank of India was acquired by RBI. And Imperial Bank of India became the State Bank of India.
1956 : The Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.
1969 : 14 Indian Private Banks were Nationalised.
1972 : 106 Insurance Companies were Nationalised into four Insurance Companies.
1973 : Coal Industry and Oil Companies were Nationalised.
1980 : 6 More Indian Private Banks were Nationalised.
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