In 1969, the open conflict between the Syndicate and Indira Gandhi became apparent. The death of President Zakir Hussain that year led to a vacancy in the position of President of India. Despite Mrs. Gandhi's reservations, the 'Syndicate' successfully put forth her enduring adversary and the then-Speaker of the Lok Sabha as the official Congress nominee for the upcoming Presidential elections.

When did Indira Gandhi announce the nationalization of fourteen leading private banks?

1969

Indira Gandhi nationalized 14 major private banks on July 19, 1969.

Indira Gandhi e also announced several big and popular policy measures like the nationalization of fourteen leading private banks and the abolition of the ‘privy purse’ or the special privileges given to former princes. Morarji Desai was the Deputy Prime Minister and Finance Minister. On both, of the above issues serious differences emerged between him and the Prime Minister resulting in Desai leaving the government.