In the second phase (1980) of bank nationalisation, 6 banks were nationalised. There were-Andhra Bank, Corporation Bank, New Bank of India, Oriental Bank of Commerce, Punjab and Sindh Bank and Vijaya Bank. Earlier, in 1969, 14 Banks were nationalised. As of now, there are 12 Public Sector Banks in India. There are-Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Banks, Indian Overseas Bank, Punjab and Sindh Bank, Punjab National Bank, State Bank of India, UCO Bank, Union Bank of India.Nationalisation of Banks mean to take the banks under government undertaking.