After the downfall of the monarchy in Russia in February 1917, the Bolshevik leader Vladimir Lenin returned to Russia from his exile in April 1917. He felt that it was time for Soviets to take over power. He put three demands which were known as Lenin's 'April Theses'. They were:(i) The war (First World War) be brought to an end.(ii) Land be transferred to the peasants. (iii) The banks be nationalised.When Lenin came to power he became active to bring changes Banks were nationalised in November, 1917. This meant that the government took over ownership and management. Land was declared social property and peasants were allowed to seize the land of the nobility. In March 1918, despite opposition by their political allies, the Bolsheviks made peace with Germany at Brest Litovsk.