20. So far the only apparent element of danger in the banking position seems to lie in the growth of deposits attracted by the Exchange Banks in India without a corresponding growth in their Indian cash reserves. It would be a good thing if the Exchange Banks were compelled to distinguish in their balance sheets between their Indian and extra–Indian business, much in the manner set out in the hypothetical balance sheet on p. 218, except that for “London” “outside India” would have to be substituted.[111] They should also distinguish, as two already do distinguish, between fixed deposits and accounts at call or for short periods. When, as in the case of the Exchange Banks, we have to deal with a small number of Banks of established position, an insistence on due publicity, rather than compulsion or regulation in matters of policy, is likely to be the proper remedy for any weaknesses which may possibly exist. 21. The next section of the Indian banking world comprises the Indian Joint Stock Banks, _i.e._ those Banks, other than the three Presidency Banks, registered in India and having their head offices there. This is a confusing group, because a great number of small money–lending establishments are registered as Banks under the Indian Companies Act—in 1910–11 492 businesses were classified as Banks.[112] The official statistics separate off, however, those of the Banks proper which are of any considerable size,—those, namely, which have a paid–up capital and reserve of at least 5 lakhs (£33,000). The earlier Banks, coming under this description, were usually under European management. Out of seven existing in 1870, only two now survive,—the Bank of Upper India (1863) and the Allahabad Bank (1865).[113] Between 1870 and 1894 seven more Banks, conforming on the whole to this same type, were founded, of which four now survive,—the Alliance Bank of Simla (1874), the Oudh Commercial Bank (1881), the Punjab Banking Company (1889), and the Punjab National Bank (1894).[114] All these Banks are on a very small scale compared with the Presidency and Exchange Banks; but they are distinguished in type from most of the more recent creations.