Table of Contents
Relevance: TGPSC Telangana History, Culture and Heritage
Prelims: Peston Shahi Coins | Pestonjee Meherjee | Viccajee Meherjee | Nasir-ud-Daula | Asaf Jah IV | Raja Chandulal | Aurangabad Mint | Bahadur Shah II | Resplendent Sun | Dar-e-Meher | Numismatics | Sicca
Mains: Merchant Banking | Princely-State Finance | Parsi Commercial Networks | Monetary Authority | State–Business Relations | Cultural Pluralism | Numismatic Evidence | Deccan Economic History
Why in News?
- A rare collection of Peston Shahi coins has highlighted the contribution of Parsi banker brothers Pestonjee Meherjee and Viccajee Meherjee to Hyderabad’s financial history.
- The coins illustrate the relationship between the Nizam’s administration, private bankers and nineteenth-century coinage.
Historical Background
- The coins belong to the reign of Nasir-ud-Daula, the fourth Nizam or Asaf Jah IV, who ruled Hyderabad from 1829 to 1857.
- During this period, merchant-bankers played an important role in providing financial assistance to princely governments.
- The coins are important numismatic sources for understanding the economic and political history of Hyderabad State.
The Meherjee Brothers
- Pestonjee Meherjee and Viccajee Meherjee were Parsi bankers originally from Bombay.
- They reportedly established links with the Nizam’s government through Raja Chandulal, the influential Diwan and Prime Minister.
- In return for their financial assistance to the State, they were reportedly granted the right to mint coins.
- They are remembered as possibly the only Parsi traders to have received such a privilege.
Features of Peston Shahi Coins
- The coinage is popularly known as the Peston Shahi Sicca.
- Examples of the Peston Shahi silver rupee belong to the period of Nasir-ud-Daula.
- They were associated with the Aurangabad Mint.
- The coins were issued in the name of the last Mughal emperor, Bahadur Shah II.
- They carried the distinctive “Resplendent Sun” symbol.
The use of the Mughal emperor’s name suggests the continuing symbolic importance of Mughal authority, even while Hyderabad functioned as a largely autonomous princely State.
Religious and Cultural Legacy
The brothers’ contribution extended beyond banking and trade. They founded the Seth Viccajee Meherjee–Seth Pestonjee Meherjee Dar-e-Meher at Secunderabad.
A Dar-e-Meher is a Parsi or Zoroastrian fire temple. This institution is regarded as one of the oldest Parsi fire temples in the region and reflects the community’s long-standing presence in Hyderabad.
Conclusion
The Peston Shahi coins are more than monetary objects. They record the intersection of the Nizam’s court, Hyderabad’s banking system and Parsi merchant capital. Their study highlights how minority trading communities contributed to the economic and cultural development of princely India. Protecting such numismatic heritage is essential for reconstructing Telangana’s diverse history.
CARE MCQ
Q. Consider the following statements regarding the Peston Shahi coins:
- They are associated with Parsi bankers Pestonjee and Viccajee Meherjee.
- Examples of these coins were issued from the Aurangabad Mint.
- They were issued exclusively in the name of Nasir-ud-Daula.
- The coins included the “Resplendent Sun” symbol.
Which of the statements given above are correct?
(a) 1 and 3 only
(b) 1, 2 and 4 only
(c) 2, 3 and 4 only
(d) 1, 2, 3 and 4
Answer: (b) 1, 2 and 4 only
Statement-wise Explanation
- Statement 1 is correct: The coins are connected with Parsi banker brothers Pestonjee Meherjee and Viccajee Meherjee.
- Statement 2 is correct: Recorded examples of the Peston Shahi silver rupee are associated with the Aurangabad Mint.
- Statement 3 is incorrect: The coins belonged to Nasir-ud-Daula’s period but were recorded in the name of Bahadur Shah II.
- Statement 4 is correct: The coins carried the distinctive “Resplendent Sun” symbol.
FAQs
1. What are Peston Shahi coins?
They are nineteenth-century coins associated with Parsi banker Pestonjee Meherjee and the Hyderabad State.
2. Who were the Meherjee brothers?
Pestonjee and Viccajee Meherjee were Parsi merchant-bankers originally from Bombay.
3. Which Nizam ruled during their association with Hyderabad?
They were associated with Nasir-ud-Daula or Asaf Jah IV, who ruled from 1829 to 1857.
4. Where were the recorded Peston Shahi rupees minted?
They were associated with the Aurangabad Mint.
5. Why are these coins historically important?
They reveal the relationship between the Nizam’s administration, private banking, monetary authority and Parsi commercial networks.
