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Fateh Chand, who was popularly known as Jagat Seth, was a businessman in the 18th century with a net worth of Rs 8.3 lakh, according to reports.
The Jagat Seths, a family of bankers in Bengal, had a net worth of approximately Rs 8.3 lakh crores and extended loans to both the Mughals and the British. Their lineage can be traced back to the 18th century when Fateh Chand, a prosperous banker, was conferred with the title "Jagat Sheth." Under the leadership of Fateh Chand and his descendants, the family gained prominence and rivaled the Bank of England in commercial operations. However, their fortunes declined due to political changes and they eventually faded into obscurity.
The British victory at Plassey in Bengal, on 23 June, 1757, was a crucial event in the history of India.