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Reserve Bank of India. Report of the Fourth Annual General Meeting of Shareholders

1939

In accordance with section 14 of the Reserve Bank of India Act 1934 the Central Board of Directors presents herewith to the Shareholders the Annual Report and the Accounts of the Bank for the year ended the 31st December 1938. [...] As days passed the depression in the share market deepened almost into a panic and on the 22nd of the month the President of the Bombay Stock Exchange by the exercise of his special powers closed the market for forward business. [...] The general revival at the end of June and the European crisis in September brought about an increase in the price of wheat but this rise was not maintained later and the Government of India in order to support the internal market imposed an import duty towards the close of the year. [...] The balance of trade in merchandise was generally unfavourable in the first six months of the year but this tendency was reversed at the end of June when India shared in the revival of business sentiment which originated in the United States and the balance of trade in July and the succeeding months was more favourable than in the corresponding months of 1937. [...] The decrease in the number owing to the closing of branches of the Travancore National and Quilon Bank was largely compensated by the increase in the case of other banks.
commerce industry
Pages
40
Published in
India
SARF Document ID
sarf.100228
Segment Pages Author Actions
Cover
1-5 unknown view
Reserve Bank of India. Report of the Fourth Annual General Meeting of Shareholders
6-40 unknown view

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