Viceroy: Lord Wavell

The Age Of Stars

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

Vol. LXXThe edition of 1944 · War and Depression23 records
Viceroy
Lord Wavell
Secretary of State
Leo Amery
Finance Member
Sir Abraham Jeremy Raisman
RBI Governor
C. D. Deshmukh

Sterling balances

£709m

+85.1% on 1943

Government of India (Finance Department) · 1 July 1944

Government of India (Finance Department): United Nations Monetary and Financial Conference, Bretton Woods

44 delegations

India attends as a full participant, one of an inner circle of 16 governments earlier invited to the Atlantic City experts' meeting in June 1944 that fixed the conference agenda. India's delegation is formally headed by the British Finance Member, Sir Jeremy Raisman

VerifiedPeer-reviewed. Source: HELLEINER2015

Banking

8 items

Government of India · 1 July 1944

Government of India: Bretton Woods Conference; the RBI participated in the consultations leading to India's membership of the IMF…

Bretton Woods Conference; the RBI participated in the consultations leading to India's membership of the IMF and IBRD

VerifiedOfficial record. Source: RBIH1

Government of India (Finance Department) · 14 July 1944

Government of India (Finance Department): US Treasury Secretary Henry Morgenthau, Jr, Chairman of the Conference, informs the Indian delegation at 3.10…

400

US Treasury Secretary Henry Morgenthau, Jr, Chairman of the Conference, informs the Indian delegation at 3.10 p.m. that India's quota is to be $400 million out of aggregate quotas of $8,800 million for the forty-four countries represented

VerifiedOfficial record. Source: GOI1945

Government of India (Finance Department) · 15 July 1944

Government of India (Finance Department): Commission I adopts the Quota Committee's report by vote, with reservations recorded by Australia, China…

10 reservations

Commission I adopts the Quota Committee's report by vote, with reservations recorded by Australia, China, Egypt, Ethiopia, the French Delegation, Greece, India, Iran, New Zealand and Yugoslavia. Raisman states India's reservation on the record

VerifiedOfficial record. Source: GOI1945

Government of India (Finance Department) · 19 July 1944

Government of India (Finance Department): Commission I adopts the Articles of Agreement of the International Monetary Fund; the report goes to the…

Commission I adopts the Articles of Agreement of the International Monetary Fund; the report goes to the Executive Plenary Session on 20 July 1944 and the Final Act is subject to a general reservation by all delegations

VerifiedOfficial record. Source: GOI1945

Reserve Bank of India · 1 July 1944

Reserve Bank of India: C. D. Deshmukh, Governor, chairs Committee 4 of Commission II (Form and Status of the Bank) and sits on the…

C. D. Deshmukh, Governor, chairs Committee 4 of Commission II (Form and Status of the Bank) and sits on the Bank's Drafting Committee; he also represents India on Committee 3 (Organisation and Management) of Commission I

VerifiedOfficial record. Source: GOI1945; RBIGOV

Government of India (with UK) · 1 June 1944

A new financial agreement was entered into between the British Government and the French Committee of National…

A new financial agreement was entered into between the British Government and the French Committee of National Liberation in February 1944 and a further Anglo-French Financial Agreement later; cited here only to record that the equivalent India settlement for 1943-44 was not located

ReportedOfficial record. Source: RCF4344

all Indian banking companies

Banking Companies Bill

A Bill "to consolidate and amend the law relating to banking companies" was introduced in the Legislative Assembly and circulated for public opinion. The RBI had sent the Government a separate pro forma balance sheet for banks in October 1944 because Form F under the Companies Act "was not suited to meet the special requirements of banks" and because "many banks, especially the smaller ones, were publishing their balance-sheets in different forms, for window-dressing, among other reasons".

VerifiedOfficial record. Source: RBI, History of the Reserve Bank of India, Vol. I, ch. 22

Banking companies

Banking Companies Bill, 1944

Proposals for a Banking Companies Bill, referred to a Select Committee, RBIH1's table of contents lists "Banking Companies Bill, 1944" and "Select Committee on the Banking Companies Bill". The Bill's contents and fate were not read in the material consulted for this file

UnconfirmedOfficial record. Source: RBIH1 table of contents (ch. 15 heading)

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