Akkalkot State during the British Raj, was a princely state. The non-salute state came under the Deccan States Agency and was bordered by Hyderabad State and the presidency of Bombay Presidency. The area of the state was 498 sq. miles; its population in 1901 was 82,047, while the population of the town itself was 8,348 in that year. In 1911, the state enjoyed a revenue estimated at Rs.26,586/- and paid a tribute to the British Raj of Rs.1,000/-.
The ruling dynasty were descended from Ranoji Lokhande, who was adopted by Chhattrapati Shahu, grandson of Shivaji, around the year 1708. Upon his adoption, Ranoji assumed the name 'Fatehsinh Bhonsle' and received in appenage the town of Akkalkot and surrounding areas. These estates remained a fief within the state of Satara until 1848, when the rulers of Satara (Chhatrapati Sambhaji designated successors) were deposed by the British. Akkalkot then became one of several vassals of Satara to be recognised as separate princely states by the British Raj. Upon the termination of British rule in India in 1947, Akkalkot state acceded unto the Dominion of India, and was later merged with Bombay Province. The political history of the state is remarkable in having been altogether free of major incident. However, given their stability and association with the dynasty of Shivaji, the family came to be linked by marriage to nearly every major Maratha ruling family in India. The ruling chiefs of Akkalkot were: