INDIAN BANKING DEVELOPMENT.
Considerable interest has been taken in banking circles the recent ItripOinttnent of ObOrteArk1 Smith, recently London Manager of the Commonwealth Bank of Australia, to a position on the Imperial Bank of India. Moreover, it is definitely stated that this arrangement has been made with a :view to his appointment as Managing Governor when neit'that position falls vacant. After twenty years' service With the-Bank of New'South Wales, Mr. Smith joined the Commonwealth Bank of Australia at its coin- mencement, since when he has held 'Many high appoint- ments in its service, and, upon its becoming the Central Reserve Bank of the Commonwealth, with control of the Australian Note issue, Mr. Smith held the position of London: Manager. His experience should, therefore, be of great value to the Imperial Bank of India, which, it will be remembered, represents the merging of the three Presidency Banks of that country.
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