Jagat Seth: Difference between revisions
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{{Use Indian English|date=July 2015}} |
{{Use Indian English|date=July 2015}} |
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{{Use dmy dates|date=July 2015}}'''Jagat Sheths''', was marwari Banker who once dominated the economy of Bengal and lay the foundations of Marwari enterprise in India.<ref>{{Cite news|url=http://www.marwar.com/people/tribute/the-rise-and-fall-of-the-jagat-sheths.html|title=The Rise and Fall of the Jagat Sheths - Marwar|date=2015-06-12|work=Marwar|access-date=2017-07-28|language=en-US}}</ref> The “Jagat Seths” meaning “The Bankers of the World” came into prominence during the Nawabi rule in Bengal and also made an important mark in the history of Bengal. During those times these Seths were so rich they used to run kind of private banks and their transaction was as huge as bank of England<ref>{{Cite web|url=https://joyacharyya.wordpress.com/2010/09/22/glimpses-of-the-nawab-era-in-bengal-bungalow-of-jagat-seth/|title=Glimpses of the Nawab Era in Bengal : Bungalow of Jagat Seth|date=2010-09-22|website=A photographer's Scrapbook...|access-date=2017-07-28}}</ref>. |
{{Use dmy dates|date=July 2015}}'''Jagat Sheths''', was [[marwari]] Banker who once dominated the economy of Bengal and lay the foundations of Marwari enterprise in India.<ref>{{Cite news|url=http://www.marwar.com/people/tribute/the-rise-and-fall-of-the-jagat-sheths.html|title=The Rise and Fall of the Jagat Sheths - Marwar|date=2015-06-12|work=Marwar|access-date=2017-07-28|language=en-US}}</ref> The “Jagat Seths” meaning “The Bankers of the World” came into prominence during the Nawabi rule in Bengal and also made an important mark in the history of Bengal. During those times these Seths were so rich they used to run kind of private banks and their transaction was as huge as bank of England<ref>{{Cite web|url=https://joyacharyya.wordpress.com/2010/09/22/glimpses-of-the-nawab-era-in-bengal-bungalow-of-jagat-seth/|title=Glimpses of the Nawab Era in Bengal : Bungalow of Jagat Seth|date=2010-09-22|website=A photographer's Scrapbook...|access-date=2017-07-28}}</ref>. |
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'''Jagat Seth''' Manik Chand was so fabulously rich that he could stop the flow of the river Ganges by constructing a wall of gold and silver coins across its stream.<ref>{{Cite web|url=http://corecommunique.com/banking-bengal-world-seth/|title=Banking in Bengal, when All the World was a Seth - Harshit Thakkar - Core Sector Communique|website=corecommunique.com|language=en-US|access-date=2017-07-28}}</ref> |
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The Jagat Seth family were beheaded in 1763, during the reign of Mir Jafar's successor, by the troops of Mir Kasim. Mir Kasim was initially supported by the [[East India Company]] as he was in friendly terms, but later he had attempted to curb their power and throw them out of Eastern India. |
The Jagat Seth family were beheaded in 1763, during the reign of Mir Jafar's successor, by the troops of Mir Kasim. Mir Kasim was initially supported by the [[East India Company]] as he was in friendly terms, but later he had attempted to curb their power and throw them out of Eastern India. |
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'''''House and Bunglow of Jagat seths''''' |
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[[File:House Of Jagat Seth Complex - Mahimapur - Murshidabad 2017-03-28 6165-6169.tif|thumb|House of jagat seth]] |
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==References== |
==References== |
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Revision as of 09:54, 28 July 2017
Jagat Sheths, was marwari Banker who once dominated the economy of Bengal and lay the foundations of Marwari enterprise in India.[1] The “Jagat Seths” meaning “The Bankers of the World” came into prominence during the Nawabi rule in Bengal and also made an important mark in the history of Bengal. During those times these Seths were so rich they used to run kind of private banks and their transaction was as huge as bank of England[2].
Jagat Seth Manik Chand was so fabulously rich that he could stop the flow of the river Ganges by constructing a wall of gold and silver coins across its stream.[3]
Jagat Seth | |
|---|---|
| Died | 1763 |
| Known for | Role in Battle of Plassey |
The Jagat Seths were a rich business and Money lender family in Murshidabad, Bengal during the time of Nawab Siraj-ud-Daula.
His[who?] spiritual guru was Jain Acharya Sri Bhratruchandra Suri. The 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.[4]
According to Nick Robins:[5] "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 East India company thus emerged as a major power broker in India.[6] Mir Jafar became the ruler of Bengal with the support of East India company.
The Jagat Seth family were beheaded in 1763, during the reign of Mir Jafar's successor, by the troops of Mir Kasim. Mir Kasim was initially supported by the East India Company as he was in friendly terms, but later he had attempted to curb their power and throw them out of Eastern India.
House and Bunglow of Jagat seths
References
- ^ "The Rise and Fall of the Jagat Sheths - Marwar". Marwar. 12 June 2015. Retrieved 28 July 2017.
- ^ "Glimpses of the Nawab Era in Bengal : Bungalow of Jagat Seth". A photographer's Scrapbook... 22 September 2010. Retrieved 28 July 2017.
- ^ "Banking in Bengal, when All the World was a Seth - Harshit Thakkar - Core Sector Communique". corecommunique.com. Retrieved 28 July 2017.
- ^ Entrepreneurial networks and business culture By Clara Eugenia Núñez, Michael S. Moss,p 94
- ^ Nick Robins, The Corporation Which Changed The World,Pluto Press, 2006
- ^ http://murshidabad.gov.in/plassey.htm