Nizam’s Jewels Under High-Security Custodial Arrangement With RBI: Govt To RS

New Delhi: The government has informed the Rajya Sabha that a number of the Nizam’s jewels are under a “high security custody agreement” with the Reserve Bank of India (RBI) and that the Ministry of Culture has recognized the historical, cultural and heritage significance of the jewellery. Union Culture Minister Gajendra Singh Shekhawat also said in a written reply to a question on Thursday that “no decision” has been taken to move the collection to a permanent public exhibition in Hyderabad.

The Nizams ruled the erstwhile Hyderabad State. The region was merged with the Union of India after Independence.

Shekhawat was asked if the government was aware that “173 remarkable pieces of the Nizam’s jewels have been kept safely in the RBI vaults since 1995” and Shekhawat said, “Yes sir.”

The minister was also asked whether the government recognized the deep cultural, historical and emotional significance of the Nizam’s jewels to the public and the legacy of Hyderabad and the long-standing public feeling that these works should be displayed in the city from which they came.

He was also asked whether the government had proposed moving the collection to Hyderabad for a permanent public exhibition.

Shekhawat said the Ministry of Culture “recognizes the historical, cultural and heritage significance of the Nizam Jewellery, including the public interest associated with these works.”

It further said that “in accordance with the existing memorandum of understanding with the Reserve Bank of India for security, insurance and safekeeping matters, the Jewelery is under a high value, high security custody arrangement with the Reserve Bank of India.”

However, the minister said no decision has been taken at present to move the collection to a permanent public exhibition in Hyderabad.