Question

When was the Charter Act passed?
A. 1830
B. 1813
C. 1823
D. 1803

Answer 1

Hint:The British Parliament passed the charter Act, and it renewed the East India Company's charter for 20 years. This act was also called the East India Company Act.
The literary critic and historian Gauri Viswanathan describes two important changes in the relationship between Britain and India that resulted from the act:
 first, the British assumption of new responsibility for the education of the Indian people; and,
 Second, the relaxation of restrictions on missionary operation.

Complete answer:
The charter act was passed in 1813, and this act was important as it defined the constitutional position of British Indian territories for the first time.
The Background of the Charter Act are as follows:
British traders and merchants suffered due to Napoleon Bonaparte's Continental System in Europe, which means that British goods' import into French allies was prohibited.

The British Traders and the merchants demanded a share in the British trade in Asia and dissolved the monopoly of the East India Company. Still, the company objected to this and did not agree to it.
Under the Charter act of 1813 and with the strict licensing system, the British merchants were finally allowed to trade in India.
The company retained its monopoly of trade with tea trade and China.

Hence the correct answer is option ‘B’.

Note:The charter act also has many provisions, such as over India's British possessions, the act asserted the crown sovereignty.
 The company's rule was extended, except for the trade-in tea, opium, and China, their trade monopoly was extended.
This act empowered the governments to tax the people, which was subject to the jurisdiction of the Supreme court.