failed · 1 January 1923
Alliance Bank of Simla fails
The most important failure of the post-war period, with "far-reaching and disastrous consequences"
VerifiedOfficial record. Source: JB1945; ICBEC1931; STBI1926 1917 issue
Vol. XLIXThe edition of 1923 · War and Depression3 records
- Viceroy
- Lord Reading
- Secretary of State
- Lord Peel
- Finance Member
- Sir Basil Phillott Blackett
The record for 1923 is thin. Figures and events not shown here have not been found in the sources, not been found to be zero.
Banking
1 itemImperial Bank / money market
Currency policy
Paper Currency Reserve lending limit to the Imperial Bank raised from Rs 5 crore to Rs 12 crore against bills of exchange; interest at the Imperial Bank's Bank rate subject to minima of 6–8 per cent on different slabs, later lowered to a 7 per cent upper minimum
VerifiedOfficial record. Source: RBIH1 ch. 2
