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“Banking could not be flourish during British reign”. Comment. |
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Answer» During the British reign, till 1870, there were only 2 joint stock banks and this number increased to 9 in the 20th century, but due to the banking crisis in 1913, many banks failed. In British era, the banking sector did not contribute substantially to economic development. Due to the lack of development of banking system, Indian industrialists could not receive financial benefits, but financial assistance was provided to those industries which were under the control of the Britishers. |
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