Question

By the Act of $1773$, Parliament granted a loan of ___________ to the East India Company.

• A. Rs. $480,000$
• B. Rs. $400,000$
• C. Rs. $500,000$
• D. Rs. $300,000$

Answer 1

The correct option is B Rs. $400,000$

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. The Act did not prove to be a long-term solution to concerns over the Company's affairs.