India Office Records early 18th century, and eventually came to hold large swaths of land in the subcontinent. In the mid-18th century, the Company began to undertake a governmental role in large parts of India, in order to organize the nascent colony to better facilitate trade. In an effort to increase its own involvement in the administration of India, the British Government passed Pitt's India Act in 1784, which established the Board of Control to direct the East India Company in its governing role. In 1858, in the aftermath of the Indian Rebellion of 1857, the British government abolished the East India Company's
Commercial Bank of India of the Companies Act of England, where the company was registered under the Indian law and was not registered in England, but was carrying on business in England. Commercial Bank of India The Commercial Bank of India, also known as Exchange Bank was a bank which was established in Bombay Presidency (now Mumbai), in 1845 of the British Raj period. The bank failed in the crash of 1866, after successfully operating for 20 years. The bank had eight branches, exclusive of the head office at Bombay, viz: London, Calcutta, Hong Kong, Foochow, Shanghai, Hankow, Yokohama and Singapore, with an agency