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

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

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.