What was the Maratha Confederacy?
Under Baji Rao I’s tenure, several of the erstwhile Mughal provinces were divided among the chiefs of four important Maratha families - Sindhias of Gwalior, Bhonsles of Nagpur, Holkars of Indore and the Gaekwads of Baroda. These chiefs together formed the Maratha Confederacy and had near to complete control and power over their respective regions. However, the Peshwa was still the official head of the Confederacy.