India–United Kingdom relations would remain the empire's most important colony until independence. Queen Victoria became Empress of India in 1876. From a small trading outpost, India became the jewel in the British crown. In 1858, the British Government took control of the territories and treaty arrangements of the former East India Company. In 1876, the area, which included modern India, Pakistan, and Bangladesh, became "the Indian Empire" (often known historically as the "British Raj") with British Monarch Queen Victoria proclaimed as "Empress of India" (a title held by her successors until 1947). The British Indian Army was established and assisted Britain in many
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