failed · 1 January 1915
6 joint-stock banks fail
6 banks; Rs 1.76 lakh paid-up
Banks failing in calendar 1915 with aggregate paid-up capital Rs 1,76,000
VerifiedOfficial record. Source: STBI1926 1916 issue; JB1945
Vol. XLIThe edition of 1915 · War and Depression8 records
- Viceroy
- Lord Hardinge
- Secretaries of State
- Lord Crewe · Austen Chamberlain
- Finance Member
- Sir William Meyer
Bank of Bengal rate
5.69%
+0.24 pts on 1914
Bank of Bombay rate
5.57%
+0.17 pts on 1914
Bank of Madras rate
5.7%
−0.19 pts on 1914
Banking
4 itemsliquidated · 4 July 1915
Amritsar National Banking Company goes into liquidation
paid-up Rs 1,07,980; deposits Rs 1,07,658
The only failure of any importance in 1915
VerifiedOfficial record. Source: STBI1926` 1916 issue
failed · 1 January 1915
11 joint-stock banks fail
11 banks
Alternative count of 1915 failures
ReportedPeer-reviewed. Source: JB1945
Government of India · 1 December 1915
Government of India: Loan of £4,000,000 issued in India at 4 per cent, repayable on or before 30 November 1923 but not before 30…
4000000
Loan of £4,000,000 issued in India at 4 per cent, repayable on or before 30 November 1923 but not before 30 November 1920, with three months' notice
ReportedPeer-reviewed. Source: SHAH1921 ch. XCVI
note issue / currency
Paper Currency Act amendments (invested portion)
The legal limit on the invested (fiduciary) portion of the Paper Currency Reserve, Rs 14 crores before the war, was modified from November 1915 by nine Acts and Ordinances until the statutory maximum stood at Rs 120 crores, of which Rs 20 crores might be held in securities of the Government of India. Before the war only Rs 4 crores of the Rs 14 crores could be sterling securities
VerifiedOfficial record. Source: BS1920 paras 28, 76
