Subhas Chandra Bose started a government called Azad Hind Sarkar. It had many departments like health, women, research, and banks. Some countries said it was a real government. At first, Indians living in Southeast Asia gave money to run it. But Bose wanted a proper bank system.
Starting the National Bank of Azad Hind
- On April 5, 1944, Bose opened the National Bank of Azad Hind Ltd. Important people from Burma and Japan came to see it start. The bank had two big jobs:
- 1. To collect money from Indians
- 2. To help Burma’s money matters
- It also helped Azad Hind Sarkar by working as its agent.
How the Bank Got Its Money
Bose was talking about making a central bank. He met a rich Muslim man in Rangoon. Bose said they needed a bank because a government without one was strange. He also wanted to make new money when they won a battle at Imphal.The rich man asked Bose how much money he needed. Bose said 50 lakhs would be enough. The man, named Abdul Ghani, said he would give 30 lakhs himself and get the rest in a week. In two weeks, the bank was ready. Ghani gave more than he promised. He gave 63 lakhs in cash and goods for the Indian National Army. He also gave a big property called Ziawari Estate, worth many crores. S. A. Ayer became the bank’s head, and Dina Nath was one of its leaders. When the war ended, the bank had 5,343,946 Dollars saved. It also had jewellery and gold worth 86,310 Dollars for Azad Hind Sarkar.
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