Senator Daniel Patrick Moynihan, known for his outspoken candor when he was the U.S. ambassador in New Delhi in the mid-1970s, used to enjoy comparing the port cities of Singapore, Rangoon and Calcutta. In the late 1940s they were much alike: bustlin...
This narrative discusses the impact of nationalization of banks in 1969. The government, under Indira Gandhi, nationalized fourteen leading private commercial banks via an ordinance in July 1969. Though the idea had been raised in a previous All Ind...
Like most commodities, foreign exchange too was chronically short during the License-Permit Raj, especially during the “garibi hatao” phase of the early 1970s. So, concerning films demanding foreign exchange, the government allocated only token amoun...
