INDIAN HISTORY

Detailed explanation-1: -The Charter Act of 1813 passed by the British Parliament renewed the East India Company’s charter for another 20 years. This is also called the East India Company Act, 1813. This act is important in that it defined for the first time the constitutional position of British Indian territories.

Detailed explanation-2: -The East India Company Act 1813 (53 Geo 3 c 155), also known as the Charter Act 1813, was an Act of the Parliament of the United Kingdom that renewed the charter issued to the British East India Company, and continued the Company’s rule in India.

Detailed explanation-3: -The British Parliament extended the East India Company’s charter by 20 years with the Charter Act of 1813 which is also known as the East India Company Act of 1813. This law is significant because it established the constitutional status of British Indian territory for the first time.

Detailed explanation-4: -Clause 43 of the Charter Act 1813 stated that the Company should invest ₹1 Lakh every year in the education of Indians. It helps boost the financial grants towards education, eventually promoting the knowledge of Science and Indian literature among students.