The proposed creation of a special! Reserve Bank in India forms an integral part of the entire Jcurreney reform scheme which is now being introduced there. It therefore of interest to learn that, as a result of its session at Calcutta, during the closing week of July, the Joint Select Committee is reported to have wrecked the scheme of a Reserve Bank, or at least of a State Jcontrolied "Reserve bank. The trouble that has arisen may be summarised as follows:
By a small majority vote the Com. mittee decided to recommend that!
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