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[[1]] slowly went bankrupt.

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Local bankers slowly went bankrupt. Before European enterprises arrived and asserted their control. Hooghly in Bengal and Surat in Gujarat were vital centres of Indian trade activity. Surat supported trade of around 16 million rupees in the late seventeenth century. However, barely 50 years later, in the middle of European settlement, the population plummeted to 3 million rupees. Exports from these ports collapsed, and credit that had previously financed earlier trade dried up. This made the bankers who would finance credit to the business people and merchants over here obsolete. With no credit requirement, the bankers went bankrupt, and their banks faced a tragic end.

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[[1]] slowly went bankrupt.