Jagat Seth

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Jagat Seth
Died1763
NationalityIndian
OccupationBusiness
Known forRole in Battle of Plassey
House of Jagat Seth

The Jagat Seth were a banking family and the title of the eldest son of the family. The family sometimes referred to as the House of Jagat Seth, were a wealthy business, banking and money lender family from Murshidabad, Bengal region in the eastern part of the Indian subcontinent, during the time of Nawab Siraj-ud-Daula.

The title[edit]

Jaget Seth was a title conferred by the Nawab of Bengal and can be interpreted as "banker of merchant of the world".[1]

The House of Jaget Seth[edit]

The Jagat Seth were the most powerful bankers of India during the first half of 18th century. Robert Orme (official historian of East India Company) described Jagat Seths as the greatest shroff (money changer) and banker in the known world.[2]

According to Nick Robins:[3] The Jagat Seths were unrivalled in northern India for their financial power. Known as 'banker of the world', this Marwari family had build up formidable economic resources on the back of its control of the imperial mint and extensive moneylending. 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.[4]

References[edit]

  1. ^ Asher, Catherine B.; Talbot, Cynthia (2006). India Before Europe. Cambridge University Press. p. 282. ISBN 978-0-521-80904-7.
  2. ^ Entrepreneurial networks and business culture By Clara Eugenia Núñez, Michael S. Moss,p 94
  3. ^ Nick Robins, The Corporation Which Changed The World, Pluto Press, 2006
  4. ^ http://murshidabad.gov.in/plassey.htm