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It was the demand of the people that a title of Maharaja should be conferred on Ranjit Singh. But Ranjit Singh hesitated to assume the title, for he wished to avoid doing anything which might cause other chiefs to conspire against him.
In February 1801 the Sikh Sardars and army officers requested Ranjit Singh to accept the title of Maharaja. They also requested him that at Lahore all the respectable citizens should be invited and title of Maharaja should be conferred on him.
Gradually Ranjit Singh approved their concept and day of first Baisakhi was fixed for that purpose.
On the Ist Baisakhi 1801, a Darbar was held in the Diwan Hall of the fort. In the Gurdwaras, the recitation of the Akhand Path started two days earlier.
On Ist Baisakh after the conclusion of Akhand Path, Hukamnama was recited. Then Giani Gurmukh Singh uttered the Daily Prayer before the Sri Guru Granth Sahib.
Ranjit Singh was asked to sit on a special platform erected for that purpose. Ranjit Singh sat on the royal throne specially prepared for that occasion.
Baba Sahib Singh Bedi who belonged to the dynasty of Guru Nanak Dev ji was specially invited to coronate Ranjit Singh. He got up and applied coloured mark on his forehead as a sign on coronation.
When Baba Sahib Singh was applying the tilak, then all the royal attendants were showering petal of flowers on Ranjit Singh.
Baba Sahib Singh declared, “Henceforth Singh Sahib Ranjit Singh would be addressed as Maharaja Ranjit Singh.”
All the officials congratualed the Maharaja.
After sometime another event of the day came into operation. On that day the Maharaja had to intorudce a new coin for his Kingdom.
A committee was organized to give its final opinion about the shape of the coin. The committee advised that on the front side of the coin the name of the Maharaja should be engraved.
But Maharaja Ranjit Singh rejected their proposal and ordained them to engrave the name of Guru Nanak Dev ji on the coin and to specify the coin as Nanak Shahi rupee and Nanak Shahi paisa.
So according to his instructions on one side of the one paisa coin Name of Guru Nanak Dev ji was engraved in Persion and Gurmukhi script and on the other side it was written ‘Guru Nanak Dev Sahaae’ (May Guru Nanak Dev help us).
One rupee coin on one side pictures of Guru Nanak Dev and Bhai Mardana were carved. The picture was evolved in such a way that Guru Nanak Dev was sitting in a pensive mood and Bhai Mardana was reciting the hymns.
On the other side of the coin the same words were written in Gurmukhi and Persian scripts as on the one paisa coin.
Other coins were also launched and executed. On those coins on one side it was written, “Deg Tegh Fateh O Nusrat Bedarang az Guru Nanak Dev Guru Gobind Singh” and on the other side it was written as “Darl Saltnat Lahore Sambvat 1808 Meminat Manos.”
So issuing the coins on the name of Gurus, the Maharaja made himself as the servant of Guru Panth.
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