In 1969, India nationalised 14 major commercial banks that each had deposits of at least what minimum amount?

Introduction / Context:
The nationalisation of banks in 1969 was a turning point in India's financial history. By bringing major commercial banks under government control, the state aimed to direct credit towards priority sectors and reduce concentration of economic power. This question tests knowledge of a specific factual detail from that event, namely the minimum level of deposits each bank had to have in order to be included in the first wave of nationalisation.

Given Data / Assumptions:

• The focus is on the first phase of bank nationalisation that took place in 1969.
• Fourteen major commercial banks were nationalised in that year.
• The criterion for selection included a minimum deposit level.
• Options for the minimum deposit are Rs. 10 crore, Rs. 25 crore, Rs. 50 crore, Rs. 100 crore, and Rs. 5 crore.

Concept / Approach:
According to historical accounts of the 1969 nationalisation, the Government of India identified large banks that controlled a substantial portion of deposits and credit. The threshold chosen was that banks with deposits not less than Rs. 50 crore would be nationalised. This ensured that the government took control of the most influential banks while leaving smaller ones outside the initial phase. Therefore, Rs. 50 crore is the correct figure for the minimum deposits criterion used when 14 banks were nationalised.

Step-by-Step Solution:
Step 1: Recall that on 19 July 1969, the government announced the nationalisation of 14 major commercial banks. Step 2: Understand that these banks were selected because they controlled a large share of total bank deposits in the country. Step 3: Recognise from standard banking history that the cut off for inclusion in this group was deposits of at least Rs. 50 crore. Step 4: Compare this figure with the answer options that include other possible thresholds such as Rs. 10 crore, Rs. 25 crore, and Rs. 100 crore. Step 5: Confirm that Rs. 50 crore each is the correct minimum deposit amount for the 14 nationalised banks.

Verification / Alternative check:
Students can verify this detail from Indian banking history chapters or reliable exam preparation books. Most of them state clearly that in 1969, fourteen commercial banks with deposits of more than Rs. 50 crore each were nationalised. Government records and educational websites also repeat this value. Once the learner remembers this number, it becomes easy to answer related questions about the scale and impact of bank nationalisation.

Why Other Options Are Wrong:
Rs. 10 crore and Rs. 5 crore would have included many smaller banks that did not dominate the financial system, which does not match the description of major commercial banks.
Rs. 25 crore is higher than some small banks but still not the figure used in official decisions, so it is historically inaccurate.
Rs. 100 crore would have restricted nationalisation to only a few very large banks, which is inconsistent with the actual number of 14 banks nationalised in 1969.

Common Pitfalls:
A common mistake is to confuse the figure used in 1969 with those from later phases of banking reform or from other countries. Another pitfall is to assume that any round number might be correct without remembering the specific value. To avoid this, students should connect Rs. 50 crore with 14 banks and the year 1969 as a package of facts: 14 major banks, each with deposits of at least Rs. 50 crore, were nationalised on 19 July 1969.

Final Answer:
In 1969, India nationalised 14 major commercial banks that each had deposits of at least Rs. 50 crore.