INDIAN DEBT
SUBSTANTIAL REDUCTION. LOANS BEING PAID OFF. [ British Official Wireless. ] Received June 15, 5.45 p.m. RUGBY, June 14. The Secretary for India, Sir Samuel Hoare, will repay to-morrow, June 15. which is the earliest possible redemption date, the outstanding balance of £3,604,600 of India 6 per cent, bonds. 1932-33, issued in February 1930. The total amount of the issue was £6,000.000, which was reduced to the above figure by independent operations. The outstanding balance of £11,213. 428 of the India 54 per cent loan, 1932, of which the original amount was £2&500,000. was repaid last January. The recent issue of India sterling stock was for £10,000,000 nominal. After allow ing for this operation, the effect of the repayment of these two loans is to reduce by a very large amount the outstanding total of the Indian debt to Britain.
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Bibliographic details
Wanganui Chronicle, Volume 75, Issue 140, 16 June 1932, Page 7
Word Count
140INDIAN DEBT Wanganui Chronicle, Volume 75, Issue 140, 16 June 1932, Page 7
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