The Gazette of India
EXTRAORDINARY
PUBLISHED BY AUTHORITY
NEW DELHI, TUESDAY, NOVEMBER 8, 1949
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
Department of Economic Affairs
RESOLUTION
New Delhi, the 8th November, 1949.
No. F.4(196)-FI/49.—In pursuance of the undertaking given in the Consti- tuent Assembly during the debate on the devaluation of the rupee that steps will bo taken to provide suitable governmental assistance for the extension of banking facilities in rural areas, the Government of India have decided to appoint a Committee with the following terms of reference: —
(1) To consider the measures that can be immediately adopted for the extension of banking facilities in rural areas.
(2) To review in this connection the present arrangements for the management of the cash work at government treasuries and sub- treasuries including those where the work is at present managed by the Imperial Bank of India.
(3) To consider to what extent the extension of banking facilities will be facilitated by entrusting the cash work at government treasuries and bub-treasuries at places where the work is not at present being managed by the Imperial Bank of India to commercial banks and co-operative banks, and in this connection to consider:—
(a) the future management of such work in the "Provinces of India as well as in the States and Unions whose financial integration with the Indian Union will take effect from the 1st April, 1950; and
(b) to what extent the management of the cash work in government treasuries and sub-treasuries could be entrusted to either a new State-sponsored bank or to one or more of the existing com- mercial banks or co-oporative banks; and the conditions to be fulfilled by, and the assistance to be given to such banks.
2166 T HE GAZETTE OF INDIA EXTRAORDINARY, NOV. 8, 1949 2. The Committee will consist of—Chairman,
Sbri Purahatamdtts Thakurdas
Vico-Chairman,
Shri C. H. Bhabha
Members,
1. Shri B. Venkatappioh, Secretary to the Government of Bombay, Finance Department.
'2 Shri Bum Gopal, lately Joint Secretary, Ministry of Finance, Govern- ment of India.
3. Shri V. R. Sonnliar, Deputy Managing Director, Industrial Finance Corporation.
4. Shri J. C. Ryan, Registrar of Co-oper&tive Societies, Madras.
6. Shri N. D. Nangia, Deputy Chief Accountant, Reserve Bank of India.
(Member Secretary).
I}, It is expected that the Committee will start its work at an early date and will submit its report by the 15th February, 1950.
4. The bendquurters of the Committee will be at Bombay. It may visit such places as it may considc. necessary and take evidence for the purpose of the enquiry. The Government of India trust that the Provincial Governments, Commercial Co-operative Banks, Chambers ot Commerce, Associntions and persons wlioi are mterefited or knowledgeable in subjects coming under the enquiry will afford the Committee all the assistance that it may roquire and will comply with any re-quest for information that may be made. Persons who wi&h to offer suggestions in regard to any matter covered by the terms of refer- ence art requested to send theL views in writing addressed to the Member- Secretary of the Committee (by name) C/O Reserve Bank of India, Centrul Office, Post Box No. 400, Hombaj, so u^ to roach him nut liter than the 30th November, 1949.
OB DEB
ORDERED lhat a eopj of the Resolution be coinmunioatod to all concerned.
O-KDKRKD also that it be published in a Gazelle; of Tniha Extraordinary.
K. Q. AMBEGAOKAR, Secy.