Meet the Madhya Pradesh family who loaned ₹35,000 to British govt in 1917 for World War I
The Ruthia family said they hope that British authorities will be able to check historical records and establish whether the loan was ever repaid or otherwise settled.
In 1917, a prominent businessman from Sehore, Seth Jumma Lal Ruthia, loaned ₹35,000 to WS Davis, the political agent in Bhopal under British rule, for World War I. The loan remains unpaid 109 years later, despite Seth Jumma Lal's death in 1937. The Ruthia family has received an official response from the UK's Debt Management Office, seeking copies of the original certificate and related correspondence.
The family is now preparing the documents for submission and hopes to verify whether the loan was ever repaid or settled. If the loan was repaid, they plan to calculate the amount with 5.5% interest for 109 years, which could amount to crores or even more when indexed to gold. However, the Ruthia family's hope for resolution may be complicated by the fact that the UK government is no longer under monarchy.
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