Bank of the People Montreal in 1840. Until 1835, every bank in Upper Canada required a legislated charter which established it as a legal person able to sue, and be sued at law. Only two Banks had been chartered: the Bank of Upper Canada and the Commercial Bank of the Midland District. Both banks were controlled by the "Family Compact" who used their control of the currency supply and credit to control trade and ultimately, the farmers. They had a "licensed monopoly" to print paper money, which reduced competition. In 1835, Dr Charles Duncombe, a Reform politician in the Legislative Assembly, was part of
India and the World Bank India and the World Bank The cooperation between the World Bank and India goes back to the foundation of the International Bank of Reconstruction and Development in 1944. As one of 44 countries, India prepared the agenda for the Bretton Woods Conference in June 1944. The Indian delegation was led by Jeremy Raisman, who was a finance member of the Indian government and proposed the name “International Bank for Reconstruction and Development”. India received its first bank loan of USD 34million from the International Bank of Reconstruction and Development in November 1948 for railway rehabilitation. Since then, India has become