That is correct. The Indians carried on fitting a variant of this. As a Standard fitting to all their .303" Rifles. And also the postwar SMLE in 7.62mm.
They used a woodscrew, as the head could be screwed down flush with the side of the forend. Making for a smoother & more comfortable grip.
The purpose of these componants, was to prevent splitting of the forend during recoil. Particularly violent when firing ballastite cartridges when discharging Grenades! (NEVER EVER from the shoulder though! It would break your shoulder bone!)..........