ABSTRACT
In the seventeenth century, Patna, then the biggest urban centre in eastern India was well known in India and abroad. The Mughal ruler Muhammad Shah who followed Farukhsiyar also honoured Fateh Chand with the title of Jagat Seth because he helped in controlling public distress during famines in Delhi. Jagat Seth Fateh Chand was no longer liberal in advancing money as loan. However, by 1731 businessmen Jagat Seth Fateh Chand became active. Throughout 1730s Jagat Seth Fateh Chand remained active. After the death of Jagat Seth Fateh Chand his family continued business. As stated earlier silver was the most important item; Jagat Seth Mahtab Rai continued though things were becoming difficult. Jagat Seth used their political influence to further increase their economic gains. Subsequent Jagat Seths were in such a state of poverty that they had to request the government to grant them pension so that they could have a regular source of monetary relief.
