Peshwa Madhav Rao I (1761–1772) and His Successors
- In 1761, Madhav Rao, the son of Balaji Baji Rao, became the Peshwa under the regency of Raghoba, the younger brother of Peshwa.
- Madhav Rao tried to regain the Maratha power which was lost in the battle of Panipat.
- In 1763 a fierce battle was fought with the Nizam of Hyderabad.
- His expeditions (1765–1767) against Haider Ali of Mysore were successful.
- However Haider Ali soon recovered almost all his lost territories.
- But Madhav Rao regained them in 1772 and Haider Ali was forced to sign a humiliating treaty.
- The Peshwa reasserted control over northern India by defeating the Rohillas (Pathans) and subjugating the Rajput states and Jat Chiefs.
- Shah Alam II, the fugitive Emperor, was in Allahabad under the protection of the British.
- In 1771, the Marathas brought him back to Delhi.
- The Emperor ceded Kora and Allahabad to them.
- But the sudden death of Peshwa in 1772 brought an end to his glorious career.
- As Madhav Rao I had no sons, his younger brother Narayan Rao became Peshwa in 1772.
- But he was murdered the next year.
- His posthumous son Sawai Madhav Rao (Madhav Rao II) was proclaimed Peshwa on the 40th day of his birth.
- After the death of Madhav Rao II, Baji Rao II, the son of Raghunath Rao became the Peshwa and was the last Peshwa.