Prime Minister: Morarji Desai
Partition, planning, aid consortia and nationalised banks.
Bank Rate
9%
unchanged on 1977
Rupee per dollar
₹8.2
−6.5% on 1977
Inflation
2.52%
−5.78 pts on 1977
GDP growth
5.71%
−1.54 pts on 1977
Reserves
$8,316m
+36.7% on 1977
External debt
$16,520m
+7.2% on 1977
Currency · 16 January 1978
Share of currency in circulation small (exact % ?)
High Denomination Bank Notes (Demonetisation) Ordinance/Act 1978; precedent for 2016
ReportedOfficial record. Source: Gazette of India 1978
The record for 1978 is thin. Figures and events not shown here have not been found in the sources, not been found to be zero.
Indian currency / banking · 16 January 1978
high-denomination notes withdrawn
Recorded in the RBI-governor list as an event of I. G. Patel's governorship (he took office 1977-12-01). Scrapped notes were not replaced in like denomination, reducing the stock of high-value cash
ReportedPress. Source: en.wikipedia.org
| Creditor | Instrument | Amount | US$ m | Status | Grade |
|---|---|---|---|---|---|
| Eurocurrency bank syndicate (members not named) | ICICI's first syndicated Eurodollar loan | repaid | verified |
Rows are listed as recorded. Some describe the same loan from different sources and must not be added together.
