Search results
Results from the WOW.Com Content Network
Nationalization may produce other effects, such as reducing competition in the marketplace, which in turn reduces incentives to innovation and maintains high prices. In the short run, nationalization can provide a larger revenue stream for government but may cause that industry to falter depending on the motivations of the nationalizing party.
1969 Nationalization of 14 Indian banks. 1972 Nationalisation and restructuring of 107 insurance companies under the General Insurance Corporation of India. [27] 1973 Coal industry under Coal India Limited and the oil and gas industry under the Oil and Natural Gas Corporation. [28] 1980 Another six banks nationalized.
At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry. [32] Indira Gandhi, the then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled Stray thoughts on Bank ...
If the bank was to be temporarily nationalised, the government would manage the bank at "arm's length" on a commercial basis, where services for savers and borrowers would not be affected and the company would continue to operate as normal. However nationalisation would also address the future of the Northern Rock Foundation. [58]
Several major news organizations are reporting that about ten of the 19 banks that have gone through government "stress tests" will have to raise capital. Most analysts already believe that ...
The Bank of England Act 1946 (9 & 10 Geo. 6.c. 27) is an act of Parliament of the United Kingdom which came into force on 14 February 1946. The act brought all of the stock of the Bank of England into public ownership on the "appointed date" (1 March 1946).
The Bill was also sufficiently widely drawn to allow the nationalisation of any financial institution, leading to the concern that other banks might be in financial difficulty. [4] After the nationalisation of Northern Rock, the Act allowed for the nationalisation of the mortgage and personal loan book of Bradford & Bingley on 29 September 2008 ...
The share of the bank sector held by the public banks continued to grow through the 1980s, and by 1991 public sector banks accounted for 90% of the banking sector. A year later, in March, 1992, the combined total of branches held by public sector banks was 60,646 across India, and deposits accounted for ₹1,10,000 crore.