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The Monetary Crisis and Foundation for Reserve Bank of India (1890-1935)

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  • Balaji, M.
  • Institute of Research, Asian

Abstract

The monetary policy of British India was highly controversial during the interwar period as it aimed to protect the budgetary obligations and private commerce. The currency stabilization policy was seen as a tool to protect the British economic interest while they ruled India. The currency came under serious pressure during the World War I and Great depression, the facets of Indian currency’s dependence was exposed through the modified council bill system and Gold exchange standard. The much-needed currency reforms and banking system were conceded by the colonial administration after much wrangling for half a century.

Suggested Citation

  • Balaji, M. & Institute of Research, Asian, 2020. "The Monetary Crisis and Foundation for Reserve Bank of India (1890-1935)," OSF Preprints gmepb, Center for Open Science.
  • Handle: RePEc:osf:osfxxx:gmepb
    DOI: 10.31219/osf.io/gmepb
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    References listed on IDEAS

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    1. G. Balachandran, 1993. "Britain's liquidity crisis and India, 1919-1920," Economic History Review, Economic History Society, vol. 46(3), pages 575-591, August.
    2. B. R. Tomlinson, 1979. "Britain and the Indian Currency Crisis, 1930–2," Economic History Review, Economic History Society, vol. 32(1), pages 88-99, February.
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