GIPE-PUNE-OIIOI2 - DSpace@GIPE

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THE BANK CAPITALISM OF YOUNG BENGAL
.... traditional. mediev~llines. i.e. in an "unorganized." proprietary
:Ql,anner. and (2) that organized or joint-stock
•• Bengali banking "·as a category is to be sh~rply distinguished
from .. joint-stock banking in Bengal." It goes
without saying· that joint-stock banking in Bengal would
~omprise three different items:
1 •. Bengali banking. properly so called,
2. Non-Bengali Indian banking.
3. Foreign (non-Indian) banking.
. .
For the purposes of st. at is tical analysis it is necessary
to bear this distinction in mind. It so happens that at
the present moment none of the larger joint-stock banks
doing business in India can be described as Bengali institutions,
although no doubt they are sought by Bengali
deposits. By "larger banks" are to be understood those
joint-stock institutions which possess a minimum capital
and reserve of Rs. 500,000. The position of "larger"
banks operating in India at the end of 1929 is indicated in
the following table: 7
Denomination Number Paid-up Capital Reaerve Deposita
1. Imperial Bank Rs. 56,250,C~0 R •. 54,776,000 Ra. 792,428,OO()
2. Foreign (Exchange)
Banks 18 £!06,444,OOO £121,286,000 Rs. 666,59I,OO(}'
3. Indian Joint-Stock
Banlt. (Iarie) 33 Ra. 78,697,000 Ra.36,654,000 RI. 627,203,000-
Total 52 134,947,000 91,430,000 2,086,222,00{>'
excluding the capital and reserve in £ of the foreign banks.
t
Attention has· to be called to the fact that the foreign
.banksare . incorporated abroad with capital in foreign
7 Statiatical Tables, pp. 5-6