Azad Hind Bank was established on 5 April 1944, at

Rangoon Yangon, formerly romanized as Rangoon, is the capital of the Yangon Region and the largest city of Myanmar. Yangon was the List of capitals of Myanmar, capital of Myanmar until 2005 and served as such until 2006, when the State Peace and Dev ...

, the then headquarters of the Provisional

Azad Hind The Provisional Government of Free India or, more simply, Azad Hind, was a short-lived Japanese-controlled provisional government in India. It was established in Japanese occupied Singapore during World War II in October 1943 and has been con ...

Indian government supported by

Imperial Japan The Empire of Japan, also known as the Japanese Empire or Imperial Japan, was the Japanese nation state that existed from the Meiji Restoration on January 3, 1868, until the Constitution of Japan took effect on May 3, 1947. From Japan–Kor ...

Establishment

On 21 October 1943

Subhash Chandra Bose Subhas Chandra Bose (23 January 1897 – 18 August 1945) was an Indian independence movement, Indian nationalist whose defiance of British raj, British authority in India made him a hero among many Indians, but his wartime alliances with ...

formed provisional government of

and early after it Bose declared war against

British Raj The British Raj ( ; from Hindustani language, Hindustani , 'reign', 'rule' or 'government') was the colonial rule of the British The Crown, Crown on the Indian subcontinent, * * lasting from 1858 to 1947. * * It is also called Crown rule ...

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