Reserve Bank of India Shares - What Became of Them ?

ONE PARTY IS HOLDING SHARES OF RESERVE BANK OF INDIA 100 PAID UP SHARES ISSUED IN 1935,

ALL INDIA GENERAL INSURANCE CO.LTD
3 SHARES OF RS.25 PAID ISSUED IN 1945 

PL.GUIDE

NILESH KOTAK 09898425655

-----------------------------------------------------------------------------------------------------------------------------------------------------

Ashwani Kumar Aggarwal - Reply




1 ) After independence , in 1949,when RBI was nationalised 
http://www.rbi.org.in/scripts/brief_national.htm
,share holders of Reserve Bank of India were given cash compensation

Please click the Link :-

http://rbidocs.rbi.org.in/rdocs/content/PDFs/89630.pdf

Reserve Bank of India Share Certificate - Picture 

http://www.rbi.org.in/scripts/brief_cert.htm

http://rbi.org.in/History/Brief_RBIShare.html

 2 ) All private insurance companies were nationalised in 1956 to form Life Insurance Corp. of India ( LIC )

-----------------------------------------------------------------------

Reserve Bank of India before Nationalisation




NO ANALOGY WIT H RESERVE BANK 
In fixing the amount of compensation for the shareholders of the 
Imperial Bank, it has been announced that, on the analogy of the Reserve Bank shares, market price of 
the share will be taken as the basis 
though how many years' average 
price will be considered for the purpose remains to be decided and is 
probably left to the Reserve Bank 
to recommend. The analogy of 
the Reserve Bank, however, must 
be regarded as inappropriate and 
unfair. Dividend on the Reserve 
Bank shares was limited to 4 per 
cent (taxable); shareholding in the 
Reserve Bank was restricted to 200 
in one name; and all the surplus 
profits of the Reserve Bank went 
to Government. In all these respects, the position of the Imperial 
Bank shares is entirely different. 
There is no limitation on dividend, 
nor on shareholding and its surplus 
profits have been freely ploughed 
back. Thus the Imperial Bank has 
operated as a commercial, private 
profit-making enterprise while the 
Reserve Bank always functioned as 
a State enterprise. Tha t large secret 
leserves have been accumulated by 
the Imperial Bank over the years 
has been widely known; this has 
weighed heavily with the investor 
in Imperial Bank shares who has 
regarded them as near-gilt investment with an intrinsic value much 

higher than what th

credit ;-
http://www.epw.in/system/files/pdf/1955_7/4-5/nationalisation_of_the_imperial_bank.pdf