The street was named so during the 1840s when the British East India Company established its coin-making facility here.
Several of them were Telugu speaking, followed by the middlemen or dubashes (men who knew two languages), chiefly Telugu-speaking Komutti and Beri Chetties.
[5] By the 1740s, Gujaratis and Saurashtrians[5] from the Saurashtra region closely associated with the cloth trade settled down in the area to the west of the street.
[2][7] In 1889, the Hindu Theological School was established, where the legendary C. Saraswathi Bai gave her first harikatha performance in 1909, becoming the first woman to do so.
It was at a meeting of this Sabha at the school in 1905 that the decision to celebrate the Aradhana of Tyagaraja in a grand manner at Thiruvaiyaru was taken by a large group of musicians.
In a talk that Tiger Varadachariar gave over the All India Radio, composers and music publishers Tachur Singaracharlu Brothers organised bhajan sessions at this temple in the 1890s.