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 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