Monetary policy, banking and transport

Money, credit and transport tied colonial India into a single imperial economy, but on terms set in London. The rupee was managed to serve British trade and finance, banks served European commerce and large Indian firms more than small peasants, and railways carried both grain and troops. A concrete example is the railway: by linking ports to the interior, it lowered transport costs and expanded markets, yet it also made local food prices follow distant markets and helped the state move soldiers quickly during revolts.