HC Deb 29 October 1919 vol 120 cc633-4
2. Sir J. D. REES

asked the Secretary of State for India whether he can give the-House any information regarding the amalgamation of the three Presidency Banks in India?

The SECRETARY of STATE for INDIA (Mr. Montagu)

Subject to the settlement of some important matters of detail, the Government of India have been authorised to proceed with legislation for enabling the three Presidency Banks to be amalgamated. It is contemplated that under the proposed scheme the amalgamated Bank would be the custodian of the Government balances in India, and would undertake to open 100 new branches in five years.