AID18903 Banking has taken a 360 degrees turn in period of 50 years starting from nationalization in 1969 of 14 private sector banks again to privatization of banks in 1990s.

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Banking has taken a 360 degrees turn in period of 50 years starting from nationalization in 1969 of 14 private sector banks again to privatization of banks in 1990s. Year 2014 resulted in setting of small Payment Banks in different nooks & corners of the country to a diametrically opposite step of mergers and consolidation of many weak public sector banks with a few large banks in 2018/19. What has been the economic & financial compulsions/reasons for such changes in five decades? (10 Marks)
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