§ Mr. RUPERT GWYNNEasked what amount of rupee notes are now current in India?
§ Mr. HAROLD BAKERThe amount of the note circulation at the 22nd November (the latest date for which figures are available) was about, 6,738 3–4 lakhs of rupees.
§ Mr. TOUCHEasked whether it was at the suggestion of the Indian Government that the limit beyond which the paper currency reserve was not to be invested in British Government securities was doubled last year and further Consols purchased, which has resulted in a loss by depreciation of £108,219?
§ Mr. HAROLD BAKERThe legislation for raising the limit was proposed and undertaken by the Government of India, and the Act was passed unanimously by the Governor-General's Legislative Council. The Government of India did not suggest the particular sterling securities in which the investment should be made.