Abstract:
The economic prosperity of a country is greatly influenced by various sectors. Mainly, the Industrial Sector looks like the Growth Engine of the Economy. However, it is noted that, the Service Sector in India dominates all the other Sectors as it contributes as much as 58 % of the total GDP of India. Banking is the main Service Sector and life line for all the economic activities of every Sector. Indian Banking System has a long track record and Reserve Bank of India RBI is the apex of all the banks. Incidentally, Nationalisation of major Commercial Banks in India, which was a very turning point for the Banking Sector and the Economy as a whole has recently completed 50 years and much is being talked about the advantages and limitations of the same. This Research Paper is based on this situation to take a review of the impacts of Nationalization of Banks in India, In view of the present Lockdown situations, prevailing in India as well as worldwide, this research is based on the Secondary data only.
