Did nationalization of banks achieve its objective?

Exactly 50 years have passed since Smt Indira Gandhi nationalized 14 banks for the first time, with ostensible goal of keeping the banking system under the people’s control. Nationalization of banks also aimed at breathing life into the Industrial sector through constant flow of capital. There were only 8000 bank branches in the country by July, 1969 when the first phase of nationalization of banks happened.