BHAGAT RĀM, BAKHSHĪ (1799-1865), son of Baisākhī Rām, a small money-changer in the city of Lahore, joined the service of Mahārājā Raṇjīt Siṅgh in 1818 at the age of nineteen as a writer in the treasury office under Misr Belī Rām, the chief toshākhānīā or keeper of the State treasury. In 1824, he was appointed assistant writer of the accounts of the privy purse. In 1831, he was deputed to accompany Kaṅvar Sher Siṅgh to the hills of Jalandhar Doāb to collect revenue from the defaulting states of Maṇḍī, Suket and Kullū. He came back to Lahore in 1832 and was appointed paymaster of fifty battalions of infantry, eight regiments of cavalry and twenty batteries of artillery. For his services to the State, he was granted in 1841 a jāgīr at Ajnālā by Mahārājā Sher Siṅgh. After the assassination of Mahārājā Sher Siṅgh, he became leader of a section of the Mutsaddī party, the other section being under the influence of Dīwān Dīnā Nāth. After the murder of Rājā Hīrā Siṅgh on 21 December 1844, Bakhshī Bhagat Rām's name was considered for appointment as one of the members of the council which was to carry on the government of the country, but the proposal fell through. He was sent to Jammū with the expedition against Rājā Gulāb Siṅgh in March 1845. Mahārājā Duleep Siṅgh granted him an additional jāgīr at Dātārpur, in the Jalandhar Doāb. Bhagat Rām lost this jāgīr when the Doāb was ceded to the British by the treaty of Lahore, 9 March 1846, but received one in lieu of it in Amritsar district.
Bhagat Rām died at Lahore in 1865, leaving behind one son, Jamīat Rāi.
J. S. Khurānā