Today is Jayanti of Malhar Rao Holkar, founder of the Holkar dynasty, developed Indore into a major city. One of the powerful Maratha leaders who asserted themselves post Panipat, when the Marathas became a confederacy of various other kingdoms.

After the disaster at Panipat, Madhavrao I, became the Peshwa on June 23, 1761, at a very young age of 16. He managed to bring the administration back into track, and also secured the treasury that was being looted. He had the unenviable task of rebuilding the Maratha Empire

Madhavrao I’s reign however would be remembered for the creation of the semi autonomous Maratha states in the Deccan and the North, it was a tactical decision to keep the Maratha empire intact.

While the Peshwas ruled over Pune, in the Western part of India, Pilaji Rao Gaekwad captured Baroda from the Mughals in 1721, leading to the establishment of the Gaekwad dynasty there. The Peshwa authority by now had considerably eroded post Panipat

In Central India, Ranoji Scindia, a patil from Satara district, commanded the Maratha invasion of Malwa, under Peshwa Baji Rao and became subedar of the province in 1736. He established his own capital at Ujjain in 1731, and later in 1810 moved to Gwalior,