INDIA’S STERLING
Use by Britain [ • ( LONDON, February 8. The Treasury has announced a sur- ' prise vesting order whereby United Kingdom holders of Indian dated ' sterling stocks will receive cash for holdings and securities, and then transfer them to the Indian Government. The significance of the move is that the Treasury has decided to utilise India’s large sterling balances for the repatriation of Indian loans. The British arms purchases have given India a favourable balance, privately estimated at £140,000,000.
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Bibliographic details
Grey River Argus, 11 February 1941, Page 8
Word Count
78INDIA’S STERLING Grey River Argus, 11 February 1941, Page 8
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