§ 18. Sir G. SCOTT ROBERTSON
asked the Under-Secretary of State for India whether any of the presidency banks still press for a removal of the restriction which disables them from drawing, discounting, buying, or selling bills of discharge or other negotiable securities, other than those payable in India or Ceylon, or the restriction which prevents them from borrowing money or receiving deposits payable outside of India or Ceylon?
§ The UNDER-SECRETARY of STATE for INDIA (Mr. C. Roberts)
The Secretary of State has not received applications from any of the banks for removal of these restrictions since the passing of the Presidency Banks Amendment Act of 1907, 1089 which removed certain restrictions previously in force.
§ Sir G. SCOTT ROBERTSON
Is there an arrangement between the Presidency Banks and the Exchange Bank in order not to compete with one another, so as to maintain their profits against the Government and the general trader?