INDIAN FINANCE
HAPPY POSITION A LOAN REPAID. Press Association Electric Telegraph Copyright (Received Saturday, 8.55 a.m.) DELHI, Friday. The Government of India announces that it is able to repay the 54 per cent, loan of £15,000,000 due to-day, without borrowing from London or drawing on resources.
This is hailed by the Tress as an event which will restore the confidence of investors in Indian securities. _
The high price of gold, leading to an effluz of £25,000,000 worth of metal, mostly from secret hoards in India, has greatlv strengthened the Government s hands financially.
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Wairarapa Daily Times, 16 January 1932, Page 5
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93INDIAN FINANCE Wairarapa Daily Times, 16 January 1932, Page 5
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