The Charter Act of 1793, passed by the British Parliament, extended the East India Company’s trade monopoly in India for 20 more years. Implemented during Lord Cornwallis’s tenure, it clarified administrative authority and strengthened the Governor-General’s powers. It also adjusted the structure of the Board of Control and regulated company finances and governance.

BulletsIn

• Charter renewed; East India Company got 20 more years in India
• Trade monopoly continued for company; only it could trade with India
• Governor-General got overriding powers, even over Bombay & Madras
• Vice President allowed if Governor-General absent from Bengal
• Company could now pay up to 10% in dividends
• Board of Control restructured with 1 President, 2 junior members
• Board’s salaries paid from Indian revenue, not British treasury
• Civil servants barred from leaving India without permission
• Company allowed to grant trade licences to Indians and foreigners
• Tax and judicial roles separated; Maal Adalats removed