Raghunath Rao, the Peshwa of the Maratha Confederacy from 1773 to 1774, was involved in bringing downfall to the Peshwa clan.

Raghunath Rao alias "Raghoba" and "Ragho Bharari" was the younger brother of Nanasaheb Peshwa. He contributed to extend the Maratha Empire to Attock (in current day Pakistan) until 1760. He craved for the throne of Peshwa after the Third Battle of Panipat and the demise of his brother in 1761 but his desire was not satisfied as the throne was passed on to Madhav Rao Peshwa.

Raghunath Rao was appointed as a regent to the young Peshwa and tried to interfere with the administration. His differences with the ruling Peshwa soon became apparent and he further attempted to conspire against the Peshwa by joining forces with the Nizam of Hyderabad. After the defeat of the alliance, Raghunath Rao was placed under house arrest. In 1772, after the demise of Madhav Rao, Raghunath Rao was released from house arrest and became the regent of Madhav Rao`s younger brother Narayan Rao. Together with his wife Anandibai, he had his nephew Narayan Rao murdered. As per the popular legend of Maharashtra, when the assassins attacked the young Peshwa, he ran to Raghoba and cried "Kaakaa malaa waachwaa" meaning `Uncle, save me`. But his cry remained unheard to the mass and he was killed mercilessly.

It is after the murder of Narayan Rao, Raghoba finally was assigned to the post of the Peshwa. He was shortly subverted by Nana Phadnis and eleven other administrators in what is called "The Baarbhaai Conspiracy" or, Conspiracy by the Twelve. Raghunath Rao died in 1782.

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