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

The correct answer is option 2: 1969

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

The factional rivalry between the Syndicate and Indira Gandhi came in the open in 1969. Following President Zakir Hussain’s death, the post of President of the India fell vacant that year. Despite Mrs Gandhi’s reservations the ‘syndicate’ managed to nominate her long time opponent and then speaker of the Lok Sabha, N. Sanjeeva Reddy, as the official Congress candidate for the ensuing Presidential elections. Indira Gandhi retaliated by encouraging the then Vice-President, V.V. Giri, to file his nomination as an independent candidate. She also announced several big and popular policy measures like the nationalisation of fourteen leading private banks and the abolition of the ‘privy purse’ or the special privileges given to former princes.