Business Nationalization of banks needs to end: Verdict from experts on the 50th anniversary of the policy Updated : July 21, 2019 08:17 PM IST Even if there was a justification for nationalisation in 1969, these banks have now become an albatross and need to be privatised. Nationalized banks are certainly causing the country more pain than gain today and that is reason enough to privatise them. Politicians of both ends of the spectrum have realised is that PSU banks give them two huge advantages. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.