Miscellaneous - This Day That Age   

dated January 30, 1956: Future of banks

The demand for the nationalisation of banks in the country was made at the 18th All-India Conference of the Reserve Bank Employees Association held on January 28 at the Gokhale Hall in Madras. Mr. Mohan Kumaramangalam, inaugurating the conference, referred to the nationalisation of insurance and said that unless the banks were also nationalised the control of the economic life of the nation would not pass into the hands of the Government. Dr. Gyan Chand, who presided, also referred to the nationalisation of insurance and expressed the view that in a very short time the banks would also be nationalised.

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