British bounty of Rs 1L on Nana Saheb Peshwa would be worth Rs 114 cr today

Lucknow: The East India Company (EIC) desperately hunted for Nana Saheb Peshwa during the war of 1857, given that he was leading the Indian charge against the British in Cawnpore (today’s Kanpur). But one can get an idea of how badly ‘wanted’ he was only from the reward announced for his capture.
The EIC had published an advertisement announcing a huge bounty of Rs 1L – worth a whopping Rs 114cr today -- for anyone who helped it arrest Nana Saheb Peshwa, who even forced British troops to surrender and held the reins of Kanpur (then Cawnpore) briefly.
But the announcement of this bounty clearly didn’t work. The Peshwa could never be captured by the British and disappeared after the rebellion.
The ‘advertisement’ for Nana Saheb’s arrest and many other such priceless exhibits would be on display at an exhibition on ‘War of 1857’ the UP State Archives is holding to mark its 76th anniversary. To be inaugurated in Lucknow on Friday, the exhibition will go on till May 10.
“In those days, a one-rupee coin was made of 180 troy grains (locally known as tolla or 11.66g) of highly pure silver. This means that Rs 1L then would be worth about 11,600kg of silver. With the cost of silver in Lucknow today at Rs 98,500, the bounty may be pegged at an astonishing Rs 114.26cr,” said Sushil Kumar Pandey, a history faculty member at Babasaheb Bhimrao Ambedkar University, Lucknow.
“As many as 30 interesting exhibits related to India's first war of independence will be on display,” said an official. Another key exhibit, a telegraphic message from the commander in chief to Governor General of India, dated Feb 25, 1858, is testimony to the bravery of Begum Hazrat Mahal of Awadh, who led an attack on elephant back against a British force commanded by James Outram in Lucknow.
“The enemy attacked this morning much in the same style as on Sunday. Their columns towards our right rear in great strength. Cavalry, artillery, and infantry moved out to intercept, took two guns, and cut up a large number. Begum and some of her principal officers were present in the field on the elephants but got back into the outworks before they could be reached. Our loss: two killed and six or eight wounded – so far as yet known…,” reads the exhibit.
Another highlight of UP State Archives’ anniversary celebration would be a paper presentation on ‘India’s first war of independence-1857’ by 45 scholars from UP and neighbouring states.
Who was Nana Saheb?
Born as Dhondu Pant, Nana Saheb Peshwa II was a key figure in the War of 1857. He led the rebellion in Kanpur (Cawnpore) and forced the British troops to surrender and even held the reins of the city briefly. His grievances stemmed from the East India Company's denial of his pension after his adopted father, Peshwa Baji Rao II, died.