We all know of the Nizams and their wealth, especially of Osman Ali Khan, the last Nizam. He appeared on the cover of Time magazine in 1937 when he was the richest man in the world. But much before that, in the first half of the 19th century, the years that passed between the third Nizam Sikander Jah and fifth Nizam Afzal-ud-Dowla were not all rosy. The kings were forced to borrow money from a bank named Palmer and Company. The bank not only lent the Nizams money, but the entire episode turned Hyderabad into a debt-ridden state. In this episode of Beyond Charminar, Serish Nanisetti talks with the host, Yunus Lasania about a major banking scandal in 1800s which shook Hyderabad. In this scandal, the Nizams were forced to borrow a lot of money to maintain British troops and turned Hyderabad into a debt-ridden state. Listen to the full episode to know more.

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