Presidencies and provinces of British India Presidencies and provinces of British India The Provinces of India, earlier Presidencies of India and still earlier, Presidency towns, were the administrative divisions of British governance in the subcontinent. Collectively, they were called British India. In one form or another, they existed between 1612 and 1947, conventionally divided into three historical periods: In 1608, Mughal authorities allowed the English East India Company to establish a small trading settlement at Surat (now in the state of Gujarat), and this became the company's first headquarters town. It was followed in 1611 by a permanent factory at Machilipatnam on the Coromandel Coast, and
Commercial paper in India Commercial Paper in Indian money market is an innovation in the Financial system of India. Prior to injection of Commercial Paper in Indian money market i.e. before 1990, the corporate companies had to depend upon the crude and traditional method of borrowing working capital from the commercial banks by pledging the inventory of raw materials as Collateral security. It involved more loss of time for the borrowing companies in availing the short-term funds for day-to-day production activities. The commercial paper has become effective instrument for these corporate companies to avail the short-term funds from the money market within shortest possible