Reserve Bank of India Report of the Ninth Annual General Meeting of Shareholders

The lack of adequate transport facilities the imposition of provincial barriers and the consequent difficulties of distribution between the producing and consuming areas and the cessation of imports from Burma and the Pacific area in the face of growing demands contributed to the rise in the prices of food articles which was also assisted by hoarding and speculation and continued inspite of vario [...] realisable by varying instalments over a period the total amount of payments after the 1st October 1942 to the annuitants being estimated at £34.11 million As regards the Railway Debenture Stocks the United Kingdom and the Indian(19) Government Vesting Orders dated the 16th January 1943 called upon the residents in the two countries to surrender their holdings of the stocks on the basis of the [...] The determined measures taken by Government during the last two months towards maintaining monetary and economic stability including among others the banning of forward trading in the bullion and cotton markets the announcement of an all-in scheme of control of cotton yarn and cloth and the definitive acceptance after the close of the year of the policy of extending and strengthening the exist [...] 2. Limitation of dividend.—Notwithstanding the provisions of section 47 of the Reserve Bank of India Act 1934 (II of 19341 and of the Fourth Schedule to that Act the aggregate of the rates at which payment of the cumulative dividend and the additional dividend payable to shareholders of the Bank under the said prvisions is made shall not so long as this Ordinance remains in force exceed fou [...] per annum on the share capital of the Bank ; and the balance of the surplus of the net annual profits of the Bank shall be paid to the Central Government.