{"id":90758,"date":"2025-06-01T10:36:04","date_gmt":"2025-06-01T10:36:04","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=90758"},"modified":"2025-06-01T10:36:04","modified_gmt":"2025-06-01T10:36:04","slug":"which-of-the-following-statements-about-agency-houses-is-are-correct","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/","title":{"rendered":"Which of the following statements about &#8216;Agency Houses&#8217; is\/are correct"},"content":{"rendered":"<p>Which of the following statements about &#8216;Agency Houses&#8217; is\/are correct?<\/p>\n<ul>\n<li>They were important commercial formations in the late eighteenth and nineteenth century India.<\/li>\n<li>The operation of managing agencies remained confined to Calcutta.<\/li>\n<\/ul>\n<p>Select the correct answer using the code given below.<\/p>\n<p>[amp_mcq option1=&#8221;1 only&#8221; option2=&#8221;2 only&#8221; option3=&#8221;Both 1 and 2&#8243; option4=&#8221;Neither 1 nor 2&#8243; correct=&#8221;option1&#8243;]<\/p>\n<div class=\"psc-box-pyq-exam-year-detail\">\n<div class=\"pyq-exam\">\n<div class=\"psc-heading\">This question was previously asked in<\/div>\n<div class=\"psc-title line-ellipsis\">UPSC CAPF &#8211; 2022<\/div>\n<\/div>\n<div class=\"pyq-exam-psc-buttons\"><a href=\"\/pyq\/pyq-upsc-capf-2022.pdf\" target=\"_blank\" class=\"psc-pdf-button\" rel=\"noopener\">Download PDF<\/a><a href=\"\/pyq-upsc-capf-2022\" target=\"_blank\" class=\"psc-attempt-button\" rel=\"noopener\">Attempt Online<\/a><\/div>\n<\/div>\n<section id=\"pyq-correct-answer\">\nStatement 1 is correct. Agency Houses were significant commercial entities in colonial India, playing a crucial role in trade, finance, and industry during the late 18th and 19th centuries. Statement 2 is incorrect. While Calcutta was a major hub for Agency Houses due to its importance as a port and administrative centre, their operations and activities extended to other major port cities like Bombay (Mumbai) and Madras (Chennai), and they controlled enterprises like plantations and mines in various parts of the country.<br \/>\n<\/section>\n<section id=\"pyq-key-points\">\nAgency Houses evolved into &#8216;Managing Agencies&#8217; and became a dominant form of business organization in India under British rule, controlling diverse enterprises from finance and trade to textiles, tea, jute, and mining.<br \/>\n<\/section>\n<section id=\"pyq-additional_information\">\nThe Managing Agency system concentrated economic power in the hands of a few firms, often foreign-owned, who managed a large number of companies for a fee and commission. The system continued well into independent India and was eventually abolished by the government in the 1970s due to concerns about concentration of wealth and economic power.<br \/>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Which of the following statements about &#8216;Agency Houses&#8217; is\/are correct? They were important commercial formations in the late eighteenth and nineteenth century India. The operation of managing agencies remained confined to Calcutta. Select the correct answer using the code given below. [amp_mcq option1=&#8221;1 only&#8221; option2=&#8221;2 only&#8221; option3=&#8221;Both 1 and 2&#8243; option4=&#8221;Neither 1 nor 2&#8243; correct=&#8221;option1&#8243;] &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Which of the following statements about &#8216;Agency Houses&#8217; is\/are correct\" class=\"read-more button\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/#more-90758\">Detailed Solution<span class=\"screen-reader-text\">Which of the following statements about &#8216;Agency Houses&#8217; is\/are correct<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1085],"tags":[1108,1264,1124],"class_list":["post-90758","post","type-post","status-publish","format-standard","hentry","category-upsc-capf","tag-1108","tag-economic-impact-of-british-rule-on-india","tag-modern-history-of-india","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following statements about &#039;Agency Houses&#039; is\/are correct<\/title>\n<meta name=\"description\" content=\"Statement 1 is correct. Agency Houses were significant commercial entities in colonial India, playing a crucial role in trade, finance, and industry during the late 18th and 19th centuries. Statement 2 is incorrect. While Calcutta was a major hub for Agency Houses due to its importance as a port and administrative centre, their operations and activities extended to other major port cities like Bombay (Mumbai) and Madras (Chennai), and they controlled enterprises like plantations and mines in various parts of the country. Agency Houses evolved into &#039;Managing Agencies&#039; and became a dominant form of business organization in India under British rule, controlling diverse enterprises from finance and trade to textiles, tea, jute, and mining.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which of the following statements about &#039;Agency Houses&#039; is\/are correct\" \/>\n<meta property=\"og:description\" content=\"Statement 1 is correct. Agency Houses were significant commercial entities in colonial India, playing a crucial role in trade, finance, and industry during the late 18th and 19th centuries. Statement 2 is incorrect. While Calcutta was a major hub for Agency Houses due to its importance as a port and administrative centre, their operations and activities extended to other major port cities like Bombay (Mumbai) and Madras (Chennai), and they controlled enterprises like plantations and mines in various parts of the country. Agency Houses evolved into &#039;Managing Agencies&#039; and became a dominant form of business organization in India under British rule, controlling diverse enterprises from finance and trade to textiles, tea, jute, and mining.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T10:36:04+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Which of the following statements about 'Agency Houses' is\/are correct","description":"Statement 1 is correct. Agency Houses were significant commercial entities in colonial India, playing a crucial role in trade, finance, and industry during the late 18th and 19th centuries. Statement 2 is incorrect. While Calcutta was a major hub for Agency Houses due to its importance as a port and administrative centre, their operations and activities extended to other major port cities like Bombay (Mumbai) and Madras (Chennai), and they controlled enterprises like plantations and mines in various parts of the country. Agency Houses evolved into 'Managing Agencies' and became a dominant form of business organization in India under British rule, controlling diverse enterprises from finance and trade to textiles, tea, jute, and mining.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/","og_locale":"en_US","og_type":"article","og_title":"Which of the following statements about 'Agency Houses' is\/are correct","og_description":"Statement 1 is correct. Agency Houses were significant commercial entities in colonial India, playing a crucial role in trade, finance, and industry during the late 18th and 19th centuries. Statement 2 is incorrect. While Calcutta was a major hub for Agency Houses due to its importance as a port and administrative centre, their operations and activities extended to other major port cities like Bombay (Mumbai) and Madras (Chennai), and they controlled enterprises like plantations and mines in various parts of the country. Agency Houses evolved into 'Managing Agencies' and became a dominant form of business organization in India under British rule, controlling diverse enterprises from finance and trade to textiles, tea, jute, and mining.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2025-06-01T10:36:04+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/","url":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/","name":"Which of the following statements about 'Agency Houses' is\/are correct","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2025-06-01T10:36:04+00:00","dateModified":"2025-06-01T10:36:04+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"description":"Statement 1 is correct. Agency Houses were significant commercial entities in colonial India, playing a crucial role in trade, finance, and industry during the late 18th and 19th centuries. Statement 2 is incorrect. While Calcutta was a major hub for Agency Houses due to its importance as a port and administrative centre, their operations and activities extended to other major port cities like Bombay (Mumbai) and Madras (Chennai), and they controlled enterprises like plantations and mines in various parts of the country. Agency Houses evolved into 'Managing Agencies' and became a dominant form of business organization in India under British rule, controlling diverse enterprises from finance and trade to textiles, tea, jute, and mining.","breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-about-agency-houses-is-are-correct\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"UPSC CAPF","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/upsc-capf\/"},{"@type":"ListItem","position":3,"name":"Which of the following statements about &#8216;Agency Houses&#8217; is\/are correct"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/90758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=90758"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/90758\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=90758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=90758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=90758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}