The editions

One paper for every year

143 editions from 1875 to 2017. Each is built only from dated records and set in the type of its era; a thin edition means a thin record, not a quiet year.

Crown Rule

1875 to 1913
Illustration: a sailing ship in a foggy harbour
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Silver rupee, Presidency Banks, and money drawn on India from London.

  1. 1875Remittances to London2 records
  2. 1876The Government of India sold its 2,200 shares to the Bank of Bengal's directors at a premium of 22.5 per cent18 records
  3. 1877Remittances to London3 records
  4. 1878Remittances to London3 records
  5. 1879The Presidency Banks Act 1876 was amended; the 1887 edition of the unrepealed Acts footnotes amendments made…5 records
  6. 1880Remittances to London4 records
  7. 1881Remittances to London3 records
  8. 1882Salt Duty Act and the salt monopoly4 records
  9. 1883Remittances to London5 records
  10. 1884Remittances to London3 records
  11. 1885Remittances to London4 records
  12. 1886Remittances to London3 records
  13. 1887Remittances to London2 records
  14. 1888Remittances to London2 records
  15. 1889Remittances to London2 records
  16. 1890Remittances to London2 records
  17. 1891Remittances to London2 records
  18. 1892Remittances to London2 records
  19. 1893Closure of the Indian mints to the free coinage of silver19 records
  20. 1894Remittances to London17 records
  21. 1895Remittances to London17 records
  22. 1896Remittances to London17 records
  23. 1897Remittances to London17 records
  24. 1898Indian Currency Committee (Fowler)18 records
  25. 1899Attempt to establish a gold standard (Gold Standard Reserve)18 records
  26. 1900Agra Bank goes into liquidation20 records
  27. 1901Remittances to London14 records
  28. 1902Berar lease arrangement17 records
  29. 1903Salt duty reduced from Rs 2.5 to Rs 2 per maund17 records
  30. 1904Remittances to London1 records
  31. 1905Remittances to London1 records
  32. 1906Remittances to London1 records
  33. 1907Sino-British Opium Agreement and the end of the India-China opium trade2 records
  34. 1908Remittances to London1 records
  35. 1909A quiet year in the recordno records yet
  36. 1910Remittances to London1 records
  37. 1911Indian Specie Bank: At the fifth general meeting the chairman told shareholders: "I may mention that not one ounce of silver is…3 records
  38. 1912Remittances to London1 records
  39. 1913Indian joint-stock banks fail22 records

War and Depression

1914 to 1946
Illustration: a storm breaking over a rough sea
Illustration

Two wars, a central bank, and the sterling balances.

  1. 1914Indian banks generally face runs23 records
  2. 19156 joint-stock banks fail8 records
  3. 191613 joint-stock banks fail11 records
  4. 1917Number of exchange banks with head offices outside India fell from 12 (1911) to 9 (1917), then recovered to 10…17 records
  5. 1918Bombay Currency Office faces a run24 records
  6. 1919Government of India: Daily issues of rupees to single tenderers of notes limited, to satisfy large demands in part and small…19 records
  7. 1920New exchange-bank branches are founded12 records
  8. 1921The Imperial Bank of India took over the three Presidency Banks of Bengal, Bombay and Madras12 records
  9. 192235 Indian banks fail3 records
  10. 1923Alliance Bank of Simla fails3 records
  11. 1924Allahabad Union Bank: Paid-up capital Rs 65,0002 records
  12. 1925People's Bank of Northern India, Ltd is founded6 records
  13. 1926Reserve Bank of India (proposal): Hilton Young Commission report submitted, recommending a central bank to be called the Reserve Bank of India…13 records
  14. 1927Reserve Bank Bill: Sir Basil Blackett's amendment to prohibit Members of Indian or Local Legislatures from serving as RBI…11 records
  15. 1928Gold Standard and Reserve Bank Bill: New Bill published, broadly following the 1927 Bill as amended by the Joint Committee, providing for a…6 records
  16. 1929Reserve Bank of India (proposal): Four-year delay between the 1928 Bill and the 1933 Bill2 records
  17. 1930Karachi Bank: Bank 1910–1930, paid-up capital Rs 2½ lakh, branches at Bombay, Hyderabad and Larkana5 records
  18. 1931Indian joint-stock banks generally: The Indian Central Banking Enquiry Committee (1931) sat in four volumes; the majority report (Vol15 records
  19. 1932Report of the Indian States Enquiry Committee (Financial), 1932 (Cmd. 4103)2 records
  20. 1933Reserve Bank of India Bill, 1933: Bill introduced, based on the 1928 Bill as modified by the London Committee; referred to a Joint Select…5 records
  21. 1934Reserve Bank of India is founded9 records
  22. 1935Reserve Bank of India is founded8 records
  23. 1936Inserted Sections 277F–277L and following into the Indian Companies Act, 1913, dealing specially with banking…4 records
  24. 1937The Travancore National Bank (est3 records
  25. 1938South Indian banking crisis faces a run9 records
  26. 1939Reserve Bank of India: Governor Sir James Taylor circulated to the Local Boards a memorandum of proposals for an Indian Bank Act to…18 records
  27. 1940Reserve Bank of India: Rupee–sterling buying rate fixed at 1s 6d and held there for the rest of the war13 records
  28. 1941Hyderabad State Bank is founded7 records
  29. 1942Indian Companies (Second Amendment) Act, 1942: Proviso added to s.277F: a company using "bank" or its derivatives in its name is deemed a banking company…10 records
  30. 1943Reserve Bank of India: The Governor (Sir James Taylor) circulated a memorandum, Sterling Balances and Inflation in India, to the…18 records
  31. 1944Government of India (Finance Department): United Nations Monetary and Financial Conference, Bretton Woods23 records
  32. 1945Indian banks (all) fail16 records
  33. 1946One Bengali scheduled bank, affected by withdrawals, asked the RBI for accommodation against shares without…20 records

The Planned Republic

1947 to 1990
Illustration: green terraced fields in a misty valley
Illustration

Partition, planning, aid consortia and nationalised banks.

  1. 1947UK–India Financial Agreement; balances blocked into Nos. 1 and 2 accounts63 records
  2. 1948First IMF drawing by India105 records
  3. 1949Sterling devaluation; India follows59 records
  4. 1950Korean War starts: commodity boom28 records
  5. 1951Bank Rate 3.0 → 3.5%20 records
  6. 1952Final sterling-balances settlement (Colombo Plan framework)6 records
  7. 1953A quiet year in the record1 records
  8. 1954Indochina / Vietnam War (incl. US phase 1965–73)4 records
  9. 1955Removed a London-registered-shareholder bank (Imperial Bank had significant British shareholding and a London…4 records
  10. 1956Suez Canal closed (to ~1957-04)21 records
  11. 1957Second Plan foreign-exchange crisis29 records
  12. 1958From here on, Plan-period trade policy is negotiated alongside Consortium pledging5 records
  13. 1959A quiet year in the recordno records yet
  14. 1960A quiet year in the record3 records
  15. 1961Operation Vijay, annexation of Goa, Daman & Diu8 records
  16. 1962Sino-Indian War6 records
  17. 1963Gold Control Order5 records
  18. 1964Pratap Singh Kairon (Punjab CM): S.R. Das Commission findings3 records
  19. 1965Reserves at lowest point since independence13 records
  20. 1966Rupee devaluation15 records
  21. 1967Sterling devaluation (2.80 → 2.40 USD/GBP); India does not follow14 records
  22. 1968Collapse of the London Gold Pool; two-tier gold market4 records
  23. 1969Nationalisation of 14 major banks5 records
  24. 1970Maruti affair (Sanjay Gandhi)7 records
  25. 1971Nixon shock, US closes gold window13 records
  26. 1972Sterling floats3 records
  27. 1973OPEC price rises / OAPEC embargo (from 1973-10-17)12 records
  28. 1974Second posted-price increase11 records
  29. 1975The Emergency15 records
  30. 1976First IMF gold auction4 records
  31. 1977Emergency lifted; Janata victory (Morarji Desai sworn in 1977-03-24)6 records
  32. 1978Demonetisation of Rs 1,000, 5,000 and 10,000 notes (Janata govt, PM Morarji Desai)3 records
  33. 1979Second oil shock (Iranian revolution, Iran–Iraq war)7 records
  34. 1980Iran–Iraq War, incl. "Tanker War" 1984–8811 records
  35. 1981IMF Extended Fund Facility approved7 records
  36. 1982A quiet year in the record2 records
  37. 1983Black July anti-Tamil riots, Sri Lanka4 records
  38. 1984Operation Blue Star6 records
  39. 1985The same source states that "significant reforms throughout the decade but especially starting in 1985"…3 records
  40. 1986A quiet year in the record1 records
  41. 1987Bofors scandal breaks (Swedish Radio)12 records
  42. 1988A quiet year in the record1 records
  43. 1989A quiet year in the recordno records yet
  44. 1990Iraqi invasion of Kuwait; oil-price spike and remittance stop17 records

The Open Economy

1991 to 2017
Illustration: sunlight breaking through heavy clouds
Illustration

The gold airlift, liberalisation, and a floating rupee.

  1. 1991Balance-of-payments crisis54 records
  2. 1992Harshad Mehta securities scam exposed (Sucheta Dalal, Times of India)11 records
  3. 1993Bombay bombings8 records
  4. 1994India accepted Article VIII of the IMF Articles of Agreement and made the rupee convertible on the current…3 records
  5. 1995A quiet year in the record2 records
  6. 1996A quiet year in the record1 records
  7. 1997Asian financial crisis (Thai baht float 1997-07-02)12 records
  8. 1998Pokhran-II; US Glenn Amendment sanctions; G8 pressure on World Bank lending18 records
  9. 1999Kargil War3 records
  10. 2000Dot-com / tech bust11 records
  11. 2001UTI US-64 freeze18 records
  12. 2002Drought (below-normal south-west monsoon)5 records
  13. 2003Iraq invasion10 records
  14. 2004Post-election crash (UPA victory, Left support)8 records
  15. 2005SEZ Act 2005, the decade's signal industrial-policy reform; consequent land-acquisition politics5 records
  16. 2006Sharp intraday collapse on the Sensex amid the credit boom; emerging-market sell-off3 records
  17. 2007Shanghai/Chinese market sell-off transmits globally7 records
  18. 2008Global Financial Crisis17 records
  19. 2009Post-election rally (UPA re-elected)6 records
  20. 2010Commonwealth Games, Delhi (Games held 2010-10-03 to 14)7 records
  21. 2011Libyan civil war and NATO intervention10 records
  22. 2012Launched 2012-11 at the ASEAN summit in Phnom Penh: ASEAN plus Australia, China, India, Japan, Korea and New…3 records
  23. 2013Taper tantrum (Bernanke testimony 2013-05-22)21 records
  24. 2014Launched 2014-09-25. A campaign covering 25 sectors, investment facilitation and ease of doing business9 records
  25. 2015Yemen war (Saudi-led intervention)6 records
  26. 2016Demonetisation of Rs 500 and Rs 1,000 notes13 records
  27. 2017GST rollout at midnight17 records