The House of Jagat Seth: Banking Dynasties of Mughal Bengal

Before the Battle of Plassey, Bengal was the banking capital of Asia. This episode dives into the House of Jagat Seth, the Oswal Jain family from Marwar who became the financiers of the Mughal Empire, the Nawabs of Bengal, and even the British East India Company. Lucas and Luna explore how Jagat Seth Mahtab Rai and his uncle Maharaja Swaroop Chand controlled the mint in Murshidabad, issued the first modern hundis (bills of exchange), and accumulated wealth that rivaled European treasuries. But their political neutrality during the 18th-century power struggles—especially their fateful decision to back Mir Jafar against Siraj ud-Daulah—led to their decline. The episode also covers the family's fate after Plassey, the destruction of their fortunes under British rule, and the legend of their hidden treasure in the ruins of Murshidabad. A story of money, power, and the quiet strings that moved empires. #JagatSeth #MughalBengal #BankingHistory #BattleOfPlassey #Murshidabad #OswalJain #Marwari #Hundi #SirajUdDaulah #MirJafar #EastIndiaCompany #BengalNawabs #EconomicHistory #IndianBanking #MughalEmpire #18thCentury #History #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo