The Bhagwa Dhwaj Banner is the standard Maratha Banner. But did you know the Imperial Maratha Banner is actually known as the Zari Patka (Zari meaning Tassels, and Patka from Sanskrit PatΔkΔ) Presenting you the incredibly rare depiction of the Zari Pataka in Tanjavur paintings.
An interesting anecdote is as follows: When Hindupati Shahu Maharaj bestowed Sikke-Katyar (Stamp & Dagger) on Raghujiraje, appointing him as Senasahebsuba, Raghujiraje told him about an incident which occured in the Karnatak liberation campaign of the Mahrattas >
A local Sadhu met Raghujiraje and gave him a murti of his ancestor Shri Ram and told him to worship it with devotion. With this he would attain the heights of glory one day. Raghujiraje considered Hindupati Shahuji's bestowal of Senasahebsuba padavi on him as that destined day>
He therefore requested Hindupati Shahuji to allow him to devote his entire Sector of Maratha Empire to Shri Ram. This includes modern day parts of East Maharashtra, Andhra, Telangana, Chattisgarh, Jharkhand, Odissa, Madhya Pradesh with reach up to Bihar and Bangladesh.
Hindupati Shahu Maharaj replied, "I too am a devotee of Bhagwan Ram and our Bhagwa Flag is that of Gurushri Swami Samarth Ramdas. Therefore, you should also join the Golden 'Zari Patka' with your Saffron flag as carrying the Chattrapati banner is duty of every Mahratta Sardar."
Saying this, the benevolent Hindupati Padshah Maharaja distributed the traditional betel leaves of responsibilities in his assembly. Senasahebsuba Raghujiraje then had the Flag made as instructed and returned to his place. Source: Aitihasik Patravyavhar by G. S. Sardesai