British Indian Army has its origins in the years after the Indian Rebellion of 1857, often called the Indian Mutiny in British histories, when in 1858 the Crown took over direct rule of British India from the East India Company. Before 1858, the precursor units of the Indian Army were units controlled by the Company and were paid for by their profits. These operated alongside units of the British Army, funded by the British government in London. The armies of the East India Company were recruited primarily from Muslims in the Bengal Presidency, which consisted of Bengal, Bihar and Uttar Pradesh, and high
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