Choose given statement is true/false:

The Charter Act of 1850 abolished the East India Company's monopoly of Indian trade.

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True

False

answer is B.

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Detailed Solution

The above statement is False.
With the Charter Act of 1813, the British Parliament renewed the East India Company's charter for an additional 20 years. It is also referred to as the 1813 East India Company Act. This law is important since it, for the first time, recognised the constitutional status of British Indian territory. Except for the trade in tea, opium, and China, the Company's trade monopoly was abolished per the Charter Act of 1813. This Act also authorised the entry of missionaries into India and participation in religious conversion.
The correct statement would be that the Charter Act of 1813 abolished the East India Company's monopoly of Indian trade.

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