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1948 1967 (2nd-20 years), 1948, 1949 - Coggle Diagram
1948 1967
(2nd-20 years)
1950
Constitution of India
Republic country
1951
Planning Era started (5 year plans)
Framework to economy of growth part
Reasons
Mn of homeless refugees after partition
Socio economic condition Bad
adopted economic plan = 5 yr plan
agendas achieve by govt. in 5 years
adopted by soviet union
1st 5 yr plan (1929- 1991)
Remember:
1947-51 - Low capital/ money
1955
RBI aquired Imperial Bankof India
renamed 30th April 1955
SBI
1960
GOI introduced Deposit Insurance Policy
Financial Stability
coz in 50's Bank failure common phenomena
so to measure to protect depositors
from risk of loss of bank
1951-60 Boost Agri sector
1961
Deposit Insurance Bill introduced & Passed
President
came in 1962
1967
many small & financial weak banks were merge
1 more item...
14 largest banks were nationalised wJ desireias.com
1948
Same year RBI act 1948
Took Private shares from holders
given compensaitons
RBI stopped services to Pakistan
1949
Belong to GOI
passed Banking Regulation act 1949
gave RBI power to regulate other banks
Licencing other Banks
RBI was nationalised