Question

Identify an example of Nationalized Bank ______.

Options

• Union Bank of India and State Bank of India

• Citi Bank and HDFC Bank

• ICICI Bank and Axis Bank

• American Express Bank and Yes Bank

Answer 1

Identify an example of Nationalized Bank Union Bank of India and State Bank of India.

Explanation:

Nationalised banks are government-owned financial entities that encourage economic growth and financial inclusion. Government-owned banks include the Union Bank of India (nationalised in 1969) and the State Bank of India (formed under a special Act of Parliament as a public sector company), whereas all other options are completely private sector or foreign commercial banking corporations.