New Delhi: A set of Nizam’s jewels is under a “high-security custodial arrangement” with the Reserve Bank of India (RBI) and the Ministry of Culture recognises the historical, cultural and heritage significance of the jewellery, the government informed Rajya Sabha on Thursday. The Nizams ruled the erstwhile Hyderabad State, and after Independence the territory was merged with the Union of India. He was also asked whether the government proposes to relocate the collection to Hyderabad for a permanent public exhibition. The Ministry of Culture “recognises the historical, cultural and heritage significance of the Nizam’s Jewellery including the public interest associated with these artefacts”, Shekhawat said. However, no decision has been taken at present to relocate the collection for a permanent public exhibition in Hyderabad, the minister said.