The Banker of Murshidabad or The House of Jagat Sath Murshidabad-2022

The Banker of Murshidabad or The House of Jagat Sath Murshidabad-2022

Murshidaabad...

July 14, 2022

                           History

" Why the Jagat Sath Family called the Banker of  Nawabs Bengal "

The Jagat Sath  were a Bengal Jain banking family and the title of the eldest Son of the family.

The Jagat sath family was a wealthy Marchant,bankar and mony lender family of  Murshdabad of during the time of Nawabs Bengal.

House of Jagat sath

The house was founded by Jain Hiranand shah from Nagaur,  Rajasthan . Who came  Patna in 1652  and  in 1707   Manikchand  member of the family helped prince Faruksiyar financially to become a Mughal Emperor. For this financial help Faruksiyer  award him the title of  "Jagat sath" On Manikchand  the head of the family. The title "jagat sath" Meaning "Bankar or  Marchant  of the world". This indicate the favour the family had gained a honour a Mughal Court.

Jagat sath

The official history of British East India Company describe the jagat sath as the greatest Banker and  mony changer knowing the world at that time. 

The Nawab of bengal Murshid quli khan  used
The credit network of  Jagat sath family to pay annual tribute to the Mughal Emporers of Delhi . Alivardi Khan came to the throne of bengal in military coup finance and planned by the Jagat sath.

Family of Jagat sath

Once a local business man named Kantu borrow money from Jagat sath Fateh chand  and was interstated  to purchase of Silk. However he failed to return the money.

Indian business man refuse to deal to East India Company  . This shows the great respect of  local businessman had for Jagat sath.

 Fateh chand was suffered a great loss in Delhi during the  mughal emperor  Nadir shah  sack of the city in 1740, but he was able to continue his business. He died 2nd Dec 1744. The jagat sath family were the most important money lenders  to the East India Company.

Murshidaabad...