The British East India Company was granted the trade monopoly with India for another twenty years. Charter Act 1793 also known as The East India Company Act 1793.The Act made only fairly minor improvements to either the Indian government structure or British control of the Company's operations. The Company was also now entrusted with wages for the employees and paying members of the Control Board.
- The authority of the Governor-General to overrule his council has been confirmed and expanded over the subordinate presidencies' governors.
- Extensive powers over the subordinate presidencies were given to the governor general.
- The selection of the Governor-General, the Governors and the Commander-in - Chief was required for Royal approval.
- After another 20 years, the East India Company Act 1793 established the trading monopoly of the company in India.
- This Act strengthened the hegemony of the company over British lands in India.
- This gave the Governor-General more power. In some conditions he could override his council's decision.
- Governor-General was also granted jurisdiction over the Madras and Bombay Governors.
- The Governor-General was present in Madras or Bombay and would supersede the Governors of Madras and Bombay in authority.
- In the absence of the Governor-General from Bengal he may nominate a Vice President from among his Council's civilian members.
- The corporation had to pay out of Indian revenue annually to the British government Rs.5 Lakhs after all expenses.
- The East India Company was granted the authority to grant individuals and company employees licenses to carry on business in India. This was referred to as 'privilege' or 'trade in the country.' This triggered opium shipments to China.
