GIPE-PUNE-OIIOI2 - DSpace@GIPE

1·1 a THE BANK CAPITALISM OF YOUNG· BENGAL
perial~ OUomane, 8. Bohemia, 9.Yokohama Specie
Bank.
Without reference to the values of businessperform~
ed we see at a glance that we in Bengal or for that matter
ip all India do not possess. any institutions of the type
described in Groups I and V. As for the type' described
in Group III (financing or industrial banks) the~.e is no
representative in India as yet. The banks corresponding
to those in Group VII are of course veryproIl)inent in
India. But the role of foreign banks in India as in the
Balkan complex is indeed entirely different from that in
France. The Bengali and other Indian joint~stock banks,
whatever be the size, belong all to the Groups II and IV.
And finally, the moneylenders and shroffs of India can
hardly yet be described as belonging functionally to the
class of •• individual bankers ,. put together in Group VI.
For all practical purposes, therefore, organised banking
under Bengali and other Indian auspices has to be
examined in the light of the .. credii .. or H depoSIt "
banks and the •• banques regionales "of France. Other
circumstances remaining the same, the very absence of
certain types indicates the pov~rty and primitiveness of the
Indian people in modern economic organisation and
capitalistic morphology.
The Anglo-American Level To-day
It is good to know exactly ·where we stand, and
therefore it will be quite relevant to employ the world
$tandard in the ·measurement of our present attainments~
And undoubtedly, Indian banking ,-we are speaking
again of entire India,---will be found to be nowhere, in
view of the fact that in England and Wales in 1924, with