Viceroys: Lord Willingdon, Lord Linlithgow
Two wars, a central bank, and the sterling balances.
Indian Companies (Amendment) Act, 1936 · regulation · 1 January 1936
Inserted Sections 277F–277L and following into the Indian Companies Act, 1913, dealing specially with banking companies
VerifiedOfficial record. Source: RBIH1 ch. 5; RBIH1 ch. 6 (on s.277K not applying to scheduled banks)
Reserve Bank of India · 1 July 1936
VerifiedOfficial record. Source: RBIH1 ch. 8 pp. 222–223
Travancore National and Quilon Bank · 1 January 1936
Sir Osborne Smith's resignation attributed by Sir C. D. Deshmukh to conflicts with Sir James Grigg (Finance Member) and Sir James Taylor over Bank rate, investment management and the 1s 6d ratio
VerifiedOfficial record. Source: RBIH1 ch. 8
Banking companies
Inserted ss. 277F–277L into the Indian Companies Act 1913. s.277F listed the forms of business in which a banking company might engage; s.277G restricted the use of the word "bank"; s.277K required banks to build up a reserve fund; s.277L required a cash reserve return
VerifiedOfficial record. Source: RBIH1 ch. 5, ch. 6
