Economy : Banking System

Q 26 / 30

UPSC CSE Prelims 2006

Which one of the following Indian banks is not a nationalized bank?

EXPLANATION

Correct Option

Federal Bank is a private sector commercial bank headquartered in Aluva, Kerala. It was not among the banks nationalized by the Government of India during the two major waves of nationalization in 1969 and 1980. Therefore, it is not a nationalized bank.

Incorrect Options

  • Corporation Bank: This bank was nationalized in 1980. It was subsequently merged with Union Bank of India in 2020.
  • Dena Bank: This bank was nationalized in 1969. It was later merged with Bank of Baroda in 2019.
  • Vijaya Bank: This bank was nationalized in 1980. It was also merged with Bank of Baroda in 2019.
SOURCEIndian Economy by Ramesh Singh, Chapter 10: Banking in India