THE STORY OF INDIA’S STERLING BALANCES PROMISES TO ADD YET another chapter to the history of predatory British Finance in India. The campaign for revision of the balances launched by financial journals in Britain, the demand for scaling down these debts in the name of justice and fairplay and finally the opposition of the British delegation to include at least a part of these balances within the purview of the Bretton Woods International Monetary Fund Conference, are unmistakable portents which cannot be missed.

What are these balances and how have they arisen? Why are they held in sterling, ie., British currency or British securities?

B.T. Ranadive, India’s Sterling Balances

BIBLIOGRAPHY

1. Naef, Alain. An Exchange Rate History of the United Kingdom: 1945–1992. Cambridge: Cambridge University Press, 2022. Print. Studies in Macroeconomic History.
2. Ranadive, Bhalchandra Trimbak. India’s Sterling Balances: By B.T. Ranadive. India, People’s Publishing House, 1945.