The Archive · 1927

State Bank Bill at Simla

Measure Withdrawn Despite Protests: Swarajists Walk Out the Legislative Assembly, Sit Basil ott, Finance Member, has Scelded to drop the Reserve Bank Bill, which contemplated the establishment of a State bank with ai directorate including representatives of associated chambers and the Federation of Indian Chambers and also of provincial ce-operative banks.

Sir Basil's announcement of his! decision, which, he said, was due to the inability of Members of the Assembly to agree on the question of] the directorate, surprised the House He was bombarded with questions as to whether this step was an order of the Secretary of State and. when ther he meant merely to postpone or to drop the Bill, but he declined, to make any further statement.

Mr. Srinivasa Ayyangar then! strongly protested against the man-' ner in which the Members of the Assembly had been treated. declared that they had tried to cooperate with the Government. bu the Government was trifling with! the liberties of the House. It was impossible to work with a Government acting in this manner. The} Swarajists then walked out of the! Chamber and the House adjourned Indian political circles in Simla declare that the Secretary of State rejected Sir Basil Blackett's last amendment to the Bill and con-

Text read from the printed page and cleaned; old type leaves the occasional error.

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