failed
35 Indian banks fail
35 banks; paid-up capital Rs 469 lakh; subscribed capital Rs 1,020 lakh
Failure wave of 1922–23, of which the most important was the Alliance Bank of Simla in 1923
VerifiedOfficial record. Source: ICBEC1931
Vol. XLVIIIThe edition of 1922 · War and Depression3 records
- Viceroy
- Lord Reading
- Secretaries of State
- Edwin Montagu · Lord Peel
- Finance Member
- Lord Meston
The record for 1922 is thin. Figures and events not shown here have not been found in the sources, not been found to be zero.
Banking
1 itemcustoms tariff
Indian tariff revision
While the Commission was still sitting, the general rate was raised from 11 to 15 per cent (cotton piece-goods remaining at 11, excise 3½); iron and steel and railway materials 2½ to 10 per cent; matches doubled; sugar 15 to 25 per cent; cotton yarn, free since 1896, taxed at 5 per cent; kerosene raised an anna a gallon with a matching Indian excise; the 20 per cent luxury class raised to 30 per cent
ReportedOfficial record. Source: FISC1922 ch. I para 22
