Contribution of a Business Community towards Urbanisation of Western India: Case Study of Sahukari Pedhi of Haribhakti

Abstract

Urbanisation is a process of adaption to changes in a settlement. There are many facets of urbanization which bring about inter-relational changes in the society, which leads to a spiral movement affecting major institutions. This paper focuses on one such urban institution, the family-firm of Haribhakti of Baroda. This firm initially supplied regular finances to regulate the establishment and consolidation of Baroda state of Gaekwad. Once the state was settled, it changed it character to suit the changing times. From a mere money-lending agency to the state, the firm grew to be a leading banker, which provided finance to the growing industries within the state. Alongside, when time came to abolish this traditional mode of finance, it too swam along the changing tide and was a proud partner to the upcoming Bank of Baroda in 1908.