Nationalization of Banks | MCQs

Explanation

Z.A. Bhutto started the Nationalization of Banks in Pakistan in 1974.

Banks (Nationalization) Act, 1974

This act was passed by Parliament on January 23, 1974.

It nationalized 14 banks and put them under the direct control of the Government of Pakistan.

Explanation

Nationalization refers to the transfer of public sector assets to be operated or owned by the state or central government.

Explanation

Banks Nationalization Act 1974, the Federal Government assumed exclusive right of ownership, management and control of all bank