Dewan Bahadur Seth Than Malji was the founder of a firm of bankers carrying on business in the Residency Bazar under the name of Sardar Mal Sagar Mal. Born at Ajmer on 19 September, 1850 in a Marwadi family, he was a Jam by religion. In 1875 he came to Hyderabad and started business as a jeweller. Later he added banking to his business.

He was a successful business man and one of the very few jewellers in Hyderabad who could accurately estimate high class jewellery. He was appointed a member of the Residency Bazar Local Fund Committee and served for 25 years.

In recognition of his services the Government of India conferred on him the title of “Rai Bahadur” in 1913, and during the same year Nizam VII conferred upon him the title of “Raja Bahadur” and exempted him from the payment of customs duty, a distinction unique in the case of bankers and merchants.

In June 1919, in further recognition of his services the Government of India conferred upon him the distinction of ‘Dewan Bahadur’. The firm of Dewan Bahadur Than Malji is now run in the name of his sons, Sardar Mal, Sagar Mal. Dewan Bahadur died on 7th February, 1932.