Reply to thread

Message: [QUOTE="Munyaradzi Mafaro, post: 64148, member: 636"] Approximately 1,200 descendants of former Awadh kingdom rulers collect royal pensions in Uttar Pradesh on Sunday after their ancestors loaned money to the British East India Company during the 1800s. The payments originate from interest earned on 2.6 million rupees deposited in a Lucknow bank, but individual amounts have diminished across generations to as little as 9.70 rupees monthly for some recipients. The pension system began in 1817 after Bahu Begum provided 40 million rupees to the Company under terms requiring monthly payments to relatives. Recipients argue the 4 percent interest rate established centuries ago should increase to match modern banking standards, while critics consider the payments outdated feudal privileges. The Uttar Pradesh government transfers funds directly to bank accounts, but the Hussainabad Trust continues cash distributions at the 19th-century Picture Gallery building. [/QUOTE]