Jagat Seth
Encyclopedia
Jagat Seth was a rich businessman from Murshidabad
during the rule of Nawab
Siraj-ud-Daula. He came from a rich Jain Marwari
business family in Murshidabad. His spiritual guru was Jain Acharya Sri BhratruChandra Suri. Jagat Seths were among the most powerful bankers of India during the first half of 18th century. Roben Orme (official historian of East India Company) described Jagat Seths as the greatest shroff (money changer) and banker in the known world.
According to Nick Robins:
"The Jagat Seths were unrivalled in northern India for their financial power. Known as 'banker of the world', this Marwari family had build up formindable economic resources on the back of its control of the imperial mint and extensive monelylending. They wielded this financial clout at the Bengali court and were judged to be 'the chief cause of revolutions in Bengal' by a French commentator at the time."
He, along with Omichund
and Mir Jafar
joined the successful conspiracy against the Nawab, engineered by Robert Clive, due to which the Nawab lost the battle of Plassey
. The British thus established the first colony in India. Mir Jafar was installed as the puppet ruler of Bengal.
The Jagat Seth family were beheaded in 1763, during the reign of Mir Jafar's successor, by the troops of Mir Kasim. Mir Kasim had initially been installed by the East India Company
as a puppet, but had attempted to rebel.
Murshidabad
Murshidabad is a city in Murshidabad district of West Bengal state in India. The city of Murshidabad is located on the southern bank of the Bhagirathi, a distributary of the Ganges River. It was the capital of undivided Bengal during the Mughal rule. Nawabs of Bengal used to rule Bengal from this...
during the rule of Nawab
Nawab
A Nawab or Nawaab is an honorific title given to Muslim rulers of princely states in South Asia. It is the Muslim equivalent of the term "maharaja" that was granted to Hindu rulers....
Siraj-ud-Daula. He came from a rich Jain Marwari
Marwaris
Marwari or Marwadi or Rajasthani people are Indian ethnic group, that inhabit the Rajasthan region of India. Their language Rajasthani is a part of the western group of Indo-Aryan languages....
business family in Murshidabad. His spiritual guru was Jain Acharya Sri BhratruChandra Suri. Jagat Seths were among the most powerful bankers of India during the first half of 18th century. Roben Orme (official historian of East India Company) described Jagat Seths as the greatest shroff (money changer) and banker in the known world.
According to Nick Robins:
"The Jagat Seths were unrivalled in northern India for their financial power. Known as 'banker of the world', this Marwari family had build up formindable economic resources on the back of its control of the imperial mint and extensive monelylending. They wielded this financial clout at the Bengali court and were judged to be 'the chief cause of revolutions in Bengal' by a French commentator at the time."
He, along with Omichund
Omichund
Omichund or Amir Chand was a man in colonial India, whose name is indelibly associated with the treaty negotiated by Robert Clive before the Battle of Plassey in 1757...
and Mir Jafar
Mir Jafar
-Notes:# "Riyazu-s-salatin", Ghulam Husain Salim - a reference to the appointment of Mohanlal can be found # "Seir Muaqherin", Ghulam Husain Tabatabai - a reference to the conspiracy can be found...
joined the successful conspiracy against the Nawab, engineered by Robert Clive, due to which the Nawab lost the battle of Plassey
Battle of Plassey
The Battle of Plassey , 23 June 1757, was a decisive British East India Company victory over the Nawab of Bengal and his French allies, establishing Company rule in South Asia which expanded over much of the Indies for the next hundred years...
. The British thus established the first colony in India. Mir Jafar was installed as the puppet ruler of Bengal.
The Jagat Seth family were beheaded in 1763, during the reign of Mir Jafar's successor, by the troops of Mir Kasim. Mir Kasim had initially been installed by the East India Company
East India Company
The East India Company was an early English joint-stock company that was formed initially for pursuing trade with the East Indies, but that ended up trading mainly with the Indian subcontinent and China...
as a puppet, but had attempted to rebel.