The Age Of Stars

Reserve Bank of India · 23 February 1935

Reserve Bank of India: Central Board adopted the Memorandum of Procedure for the issue of shares

VerifiedOfficial record. Source: RBIH1 ch. 4

Reserve Bank of India · 8 March 1935

Reserve Bank of India: Share issue announced; cumulative dividend fixed at 3½ per cent by notification of 2 March 1935

Rs 5 crore issue

VerifiedOfficial record. Source: RBIH1 ch. 4

Reserve Bank of India · 22 March 1935

Reserve Bank of India: Share lists open four days; issue oversubscribed by nearly Rs 5 crore (100 per cent)

1,34,558 applications

1,34,558 applications

VerifiedOfficial record. Source: RBIH1 ch. 4

Reserve Bank of India · 8 March 1935

Reserve Bank of India: First meeting of the Committee of the Central Board held in Calcutta

VerifiedOfficial record. Source: RBIH1 ch. 4

Imperial Bank of India · 1 April 1935

Imperial Bank of India: Ceased to be banker to Government; authorised to enter an agreement with the RBI to act as its sole agent…

Ceased to be banker to Government; authorised to enter an agreement with the RBI to act as its sole agent where it had a branch and the RBI had none

VerifiedOfficial record. Source: RBIH1 ch. 2 p. 65

Imperial Bank of India

Imperial Bank of India (amendment)

The Imperial Bank ceased to be banker to Government; it could agree with the RBI to be its sole agent where it had a branch and the RBI had none. Government control over the bank was modified; restrictions on foreign-exchange business removed; restrictions on land mortgage business, periods of loans and advances and loans against shares retained

VerifiedOfficial record. Source: RBIH1 ch. 2 p. 65

Indian monetary authority

Government of India Act 1935, ss.9 and 152

Transferred certain central-bank functions of the Governor-General to his discretion or individual judgement

VerifiedOfficial record. Source: RBIH1 p. 87