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Public Sector Banks are banks where a majority stake (i.e. more than 50%) is held by a government. The shares of these banks are listed on stock exchanges. Before 1969, State Bank of India (SBI) was the only public sector bank in India. SBI was nationalized in 1955. The large-scale nationalization of banks in India took place in 1969 by Mrs. Indira Gandhi. Beside RBI and SBI & its associates, there are 20 nationalized banks in India as on date. These nationalized banks, together with Regional Rural Banks (RRBs) come under the category of Public Sector Banks.


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