HISTORY
ACT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 500, 000
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Rs 300, 000
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Rs 400, 000
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Rs 480, 000
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Detailed explanation-1: -By the Act of 1773, Parliament granted a loan of Rs. 400, 000 to the East India Company. The Regulating Act of 1773 was an Act of the Parliament of Great Britain intended to overhaul the management of the East India Company’s rule in India.
Detailed explanation-2: -Under the “regulating Act of 1773”, the “Parliament of Great Britain” restricted the company dividends to only 6% and limited four-year terms for the Court of Directors. It refused the employees of the company to accept any kind of gift or bribery from the native population or engage in personal trade.
Detailed explanation-3: -Explanation: The East India Company needed to take loan from Parliament because it always went bankrupt again and again due to a lot of wars by them against the Indian rulers in order to win the Indian subcontinent.