GIPE-PUNE-OIIOI2 - DSpace@GIPE

110 THE BANK CAPITALISM OF YOUNG BENGAL
the number has in.~reased to 18 and the total deposits are
to be estimated at Rs. 666,591,000. 22
Now, in the 33 Indian banks with capital- at least
Rs.500,000 each, the deposits are worth Rs.627 ,203,000.­
To this list may be added some 45 institutions, each with
capital between Rs. 100,000 and Rs. 500.000. The
deposits in these institutions are worth Rs. 35,751,000.
Altogether, then, in these 78 large and medium jointstock
banks under Indian cvntrol, we have a total
deposit of Rs. 662,954,000.
It is clear that to-day, as in 1905, the foreign banks:
are still absolutely somewhat superior to the Indian jointstock
banks in the amount of deposits. But" relatively"
speaking, it is necessary to' note that while in 1905 the
Indian institutions were to the foreign in the proportion
of Rs. 119,892,000 to Rs. 170,445,000 in deposit, to-day
the proportion is Rs. 662,954,000 to Rs. 666,591,000.
The tendency on the Indian' side is represented by an increase
to. the extent of 5.5 times, while that on the foreign
side is considerably less, namely, 3.8 times. One is convinced
that the Indian concerns have been advancing
at a comparatively higher speed than the foreign institutions.
. Naturally enough, these foreign banks have grown
in importance and number along with the growth in the
. volume of overseas trade. Down to 1905 there were only
. ten institutions, but. down to 1870 there had been only
three, as follows:
22 Statistical Table. relating to Banks In India 1929 (Calcutta 1931).
pp_ 5-6,