In the east of Hari Ki Pauri and middle of Ganga canal, a hill with a statue of Mahamana Madan Mohan Malwiyaji is situated. Because of this statue, this place is known as Malwiya Dweep. In the year 1938, before Kumbh, a beautiful pillar was established here by Seth Jugalkishore Baldevdas Birla.

Shankaracharya Swami Jayendra Saraswati of Kanchi Kamkoti Peeth established a Shankaracharya Pillar having statue of Adi Shankarcharya along with his disciples at the top of the pillar at Malwiya Dweep. The evening Ganga Arti can be seen from this ghat. The expansion work was also carried out in ArdhKumbh 2004