...Mughal sovereign, Muhammad Shah ...conferred on the Nizam the title of Asif Jha after making peace with him...The rule of Asif Jha I, that lasted for a quarter of a century, once again brought to Hyderabad an era of prosperity and grandeur ...The dynastic rule begun by the first Asif Jha lasted right up to 1948, when Hyderabad state merged with the Indian Union... rulers of the Asif Jha dynasty (or more popularly known as the Nizam dynasty contributed to the growth of Hyderabad economically and culturally.
It was in 1769 that Hyderabad got preeminence after Nizam Ali Khan Asaf Jah-II, the second ruler of the dynasty, made it the capital of his kingdom instead of Aurangabad. By then, two bloody battles had been fought for Hyderabad.
Kings of the Nizam dynasty were said to be among the richest men in the world. They indulged their fantasies on an extraordinary extent. For instance, the ninth Nizam of Hyderabad, Mahbub Ali, Asif Jha VI (1869-1911) is reputed to have never repeatedly worn a dress. It is said that his wardrobe filled an entire wing of the palace and stood two storeys high.Ababu Minda Yimene
Though the Nizams who came after Asif Jha I still were wealthy, they were not capable administrators and policy-makers like the first Nizam. So, they were slowly subordinated by the growing French and British powers on the peninsula.
Misfortune befell the city with the conquest of the Deccan by the Mughal Emperor Aurangzeb in 1687. The headquarters of the Deccan then shifted to Aurangabad under the Mughal rule. In 1763, the Nizam shifted the headquarters to Hyderabad and again the city flourished.
In the Deccan, a Muslim State ruled by H.E.H. the Nizam, special stamps and currency known as Halisika minted in Hyderabad was minted.