Stories from India · India

Prince Mukhamadali of the South Indian state of Carnatic left a debt of 900,000 pounds in the late 18th century, equivalent to 2 billion dollars today. He obtained loans at annual interest rates of 20-30% from the English East India Company. Following his death in 1801, the British took control of his lands. The Russian Ministry of Internal Affairs has developed a ban that will extend to companies.