Azad Hind Bank was established on 5 April 1944, at

Rangoon Yangon ( my, ရန်ကုန်; ; ), formerly spelled as Rangoon, is the capital of the Yangon Region and the largest city of Myanmar (also known as Burma). Yangon served as the capital of Myanmar until 2006, when the military government ...

, the then headquarters of the Provisional Azad Hind Indian government supported by Imperial Japan.

Establishment

On 21 October 1943 Subhash Chandra Bose formed provisional government of Azad Hind and early after it Bose declared war against

British Raj The British Raj (; from Hindi ''rāj'': kingdom, realm, state, or empire) was the rule of the British Crown on the Indian subcontinent; * * it is also called Crown rule in India, * * * * or Direct rule in India, * Quote: "Mill, who was himsel ...

and its allies on 23 October 1943. Bose established the Azad Hind bank to manage funds donated by the Indian community from across the world for the liberation of India from the

, while utilizing the bank's services for the operations of the Azad Hind Fauj. The bank maintained its branches throughout Japan occupied countries. The currency notes were issued in the form of

Promissory note A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the ''maker'' or ''issuer'') promises in writing to pay a determinate sum of ...

, and these notes were usually printed on one side. The money collected by the Azad Hind government was kept in the Bank. Initially the bank had an authorized capital of 5 million and paid-up capital of 2.5 million.

References

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Establishment

References

See also