British RajThe British Raj (rɑːdʒ ; from Hindi , 'kingdom', 'realm', 'state', or 'empire') was the rule of the British Crown on the Indian subcontinent; it is also called Crown rule in India, or Direct rule in India, and lasted from 1858 to 1947. The Indian Rebellion of 1857 led to the British Crown assuming direct control of India from the East India Company in the form of the new British Raj through the Government of India Act 1858.
Reserve Bank of IndiaThe Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development.
DollarDollar is the name of more than 20 currencies. The United States dollar, named after the international currency known as the Spanish dollar, was established in 1792 and is the first so named that still survives. Others include the Australian dollar, Brunei dollar, Canadian dollar, Eastern Caribbean dollar, Hong Kong dollar, Jamaican dollar, Liberian dollar, Namibian dollar, New Taiwan dollar, New Zealand dollar, Singapore dollar, Trinidad and Tobago Dollar and several others.
South AsiaSouth Asia is the southern subregion of Asia, which is defined in both geographical and ethnic-cultural terms. As commonly conceptualised, South Asia consists of the countries predominantly Afghanistan Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, Topographically, it is dominated by the Indian subcontinent and defined largely by the Indian Ocean in the south, and the Himalayas, Karakoram, and Pamir mountains in the north. The Amu Darya, which rises north of the Hindu Kush, forms a part of the northwestern border.
Cent (currency)The cent is a monetary unit of many national currencies that equals of the basic monetary unit. Etymologically, the word cent derives from the Latin centum meaning 'hundred'. The cent sign is commonly a simple minuscule (lower case) letter . In North America, the c is crossed by a diagonal stroke or a vertical line (depending on typeface), yielding the character . The United States one cent coin is generally known by the nickname "penny", alluding to the British coin and unit of that name.
Currency substitutionCurrency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. The process is also known as dollarization or euroization when the foreign currency is the dollar or the euro, respectively. Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador, El Salvador, and Zimbabwe. Some small economies, for whom it is impractical to maintain an independent currency, use the currencies of their larger neighbours; for example, Liechtenstein uses the Swiss franc.
Bengal PresidencyThe Bengal Presidency, officially the Presidency of Fort William in Bengal and later Bengal Province, was a subdivision of British India. At the height of its territorial jurisdiction, it covered large parts of what is now South Asia and Southeast Asia. Bengal proper covered the ethno-linguistic region of Bengal (present-day Bangladesh and the Indian state of West Bengal). Calcutta, the city which grew around Fort William, was the capital of the Bengal Presidency.
Currency boardIn public finance, a currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate target. In colonial administration, currency boards were popular because of the advantages of printing appropriate denominations for local conditions, and it also benefited the colony with the seigniorage revenue.
History of IndiaAnatomically modern humans first arrived on the Indian subcontinent between 73,000 and 55,000 years ago. The earliest known human remains in South Asia date to 30,000 years ago. Sedentariness began in South Asia around 7000 BCE; by 4500 BCE, settled life had increasingly spread, and gradually evolved into the Indus Valley civilisation, which flourished between 2500 BCE and 1900 BCE in present-day Pakistan and north-western India. Early in the second millennium BCE, persistent drought caused the population of the Indus Valley to scatter from large urban centres to villages.
Federal Reserve NoteFederal Reserve Notes, also United States banknotes, are the currently issued banknotes of the United States dollar. The United States Bureau of Engraving and Printing produces the notes under the authority of the Federal Reserve Act of 1913 and issues them to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System. The Reserve Banks then circulate the notes to their member banks, at which point they become liabilities of the Reserve Banks and obligations of the United States.
