Prime Minister: Jawaharlal Nehru
Partition, planning, aid consortia and nationalised banks.
Bank Rate
3.5%
unchanged on 1954
Arabian Light
$1.93
unchanged on 1954
Imperial Bank of India nationalised as the State Bank of India (1955-07-01)
Removed a London-registered-shareholder bank (Imperial Bank had significant British shareholding and a London office) from private control
ReportedOfficial record. Source: SBI Act 1955
nationalised · 1 January 1955
The Imperial Bank was taken over and became the State Bank of India (later context; out of the 1921–39 scope)
UnconfirmedOfficial record. Source: Not read in this file's sources
| Creditor | Instrument | Amount | US$ m | Status | Grade |
|---|---|---|---|---|---|
| USSR | State credit for the Bhilai steel plant (signed 1955-02-02) | repaid in rupee trade | reported | ||
| IBRD | Industrial Credit and Investment Project (P009591), 1955-03-14, ICICI founding loan | 10 USD | 10 | Disbursed | verified |
Rows are listed as recorded. Some describe the same loan from different sources and must not be added together.
