§ Lieut.-Colonel CROFTasked the Secretary of State for India whether, when the concession that rupee pensions should be paid at a minimum rate of 1s. 9d. to the rupee was made in 1890, the official rate of exchange was 1s. 4d.; and, seeing that the official rate is now 2s. to the rupee and therefore the 1s. 9d. rate is no longer a concession, will he take steps to see that the minimum rate for the payment of pensions is not less than the official rate obtaining at the time of payment?
§ Mr. MONTAGUIn 1890–91 the official rate of exchange, that is, the rate fixed from time to time for the adjustment of transactions between the Imperial and Indian Exchequers, was 1s. 5d. At present it is revised monthly on the basis of market rates. Rupee pensioners drawing their pensions in sterling from the India Office also receive the benefit of the market rate if above the minimum rate of 1s. 9d. on the date of issue of pension, otherwise conversion takes place at 1s. 9d. It is not intended to raise the minimum.