By the late nineteenth and early twentieth centuries, the financial situation of the Pedhi in Baroda State had significantly deteriorated due to an economic depression. Tensions had been escalating since 1835 between the East India Company authorities and Maharaja Sayajirao Gaekwad II, who aimed to reduce the financial dominance of the shroffs (money lenders) over the state. In response, he…
Bankers
In the 18th century, Pune emerged as a key cultural and financial hub, attracting ambitious entrepreneurs. Among them were Haribhai and Bhaktidas, two brothers who ventured into banking and established themselves as prominent local moneylenders. Their business flourished with the support of Nana Fadanvis, a key minister in the Peshwa government, and the favor of Peshwa Madhavrao I. Bhaktidas managed…
The history of Baroda State is richly adorned with remarkable individuals whose vision and dedication shaped its economic landscape. Among these luminaries were Samaldas Haribhakti and Bechardas Haribhakti, whose contributions left an indelible mark on the region’s prosperity and development. Samaldas Haribhakti: A Visionary Entrepreneur and Loyal Ally Born into the Haribhakti family, Samaldas Haribhakti’s journey began on December 5,…