Courtesy: Wikimedia Commons
Three hundred years ago, the Anglo-French rivalry in Europe spilled over to India, and threatened the dissolution of the powerful Bombay Presidency. Three centuries later, India and France are in a different place, with economic ties blossoming and the bilateral upgrading in 1998 into a strategic relationship. The speed with which this has scaled up reflects the deep familiarity between the two nations rooted in colonial history.
Courtesy: Bombay 100 Years Ago
The Imperial Bank of India completed a hundred years in 2021. This Bombay Presidency institution is the precursor of the State Bank of India, which was a retail bank but also performed central bank duties. In this podcast, Sifra Lentin discusses the legacy of what was once the Indian subcontinent's oldest, largest bank.
Mumbai has a deep legacy as an international financial hub from the 19th to early 20th century. It was the central node of trading communities in a globalised colonial world, the remnants of which are seen today. The author describes the city's heyday and advances the prospect of Bombay's revival as a global city of enterprise. This excerpt traces the history of the Bombay Burmah Trading Co., which played a role in the onset of the final Anglo-Burmese War.
Courtesy: Marg Publications (Mumbai)
From the window of the earliest paper currencies issued by private banks in Calcutta, to the evolution of contemporary banknotes, The Conjuror’s Trick: An Interpretive History of Paper Money in India, deftly tackles political imperatives, monetary policy, global disruptions, schools of currency thought and even the science and art of printed paper money in India.
Courtesy: Wikimedia commons & gloriabyculla.wordpress
On 21 January, the Bombay Stock Exchange index crossed the 50,000 mark – the first-ever in its 146-year history. A similar stock market boom occurred in 1863. It was led by the city’s legendary stock-bullion-cotton broker, Premchund Roychand. Unlike today’s Bad Boy Billionaires, Roychand settled all his dues after which he earned back his fortune. Well-known as the sole donor of Mumbai University’s Rajabai Clock Tower, he not only met all pending philanthropic commitments made before the 1865 crash but continued giving more.
Courtesy: Gateway House
At the turn of the 20th century, British India was home to about 3,000 Japanese expatriates, and Bombay and its presidency had well-established trade ties with Imperial Japan – until the Second World War brought it all to an end. The city never regained its substantial Japanese resident population, but the few monuments that remain point to rich political and religious linkages
Courtesy: Dr. Jehangir Sorabjee
Prior to the Second World War, Bombay had established merchant networks with several Japanese port cities and they drove an enormous global trade in cotton and textiles between the Indian subcontinent and Imperial Japan. Business has become a renewed priority for both countries today, offering fresh opportunities for collaboration
Courtesy: State Bank of India
The history of modern Indian banking in the 19th century is full of examples of lopsided loan portfolios, favouring a few individuals and businesses, which is not very different from today’s world of financial fraud and manipulation of the system for personal gain. The past still holds many lessons
Courtesy: Wikipedia Commons
Over 50 years ago, the Indian rupee was a currency of overseas trade besides being the local currency for the Gulf nations and many regions of the Indian Ocean. It fell into a retreat for many reasons. With the Indian economy slated to strengthen 2019 onwards, this is the right time to speed up the rupee’s full capital account convertibility
Courtesy:
Mumbai and Buenos Aires are cities with a shared history of trading, business and entrepreneurship. The parallels are becoming more apparent now, with Buenos Aires expanding the ecosystem of support for business in innovative ways
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