Tag Archives: Bank of Maharashtra

Bank of Maharashtra aims for 19% agri credit growth

Reported by | Updated: September 21, 2020

Banks on e-Meets, digitalized land records and post COVID schemes: Bank of Maharashtra has provided total agriculture advances (AA) of Rs143.85 billion during the year ended 31 March 2020. A spokesperson for the bank said the total amount of AA as of 30 June 2020 has increased by Rs4.96 billion and stood at 17.30% of […]

Bank of Maharashtra closes 51 branches

Reported by | Updated: October 11, 2018

Bank of Maharashtra has closed some 51 branches as part of cost-cutting measures. The bank said all these branches were in urban areas and were identified non-viable and had incurred huge losses. These branches would be merged with neighboring branches. The bank has some 1900 branches across the country. The IFSC code and MICR codes […]

BoM to improve its state-focused business

Reported by | Updated: March 27, 2018

Intro: R.K. Gupta, Executive Director, Bank of Maharashtra, discusses the bank’s Maharashtra-centric business operations: Mehul Dani: What percentage of your branches and ATMs is in Maharashtra? Where does the state figure in national network? R.K. Gupta: Currently, 1146 branches and 1246 ATMs of the bank is Maharashtra. The state accounts for 61.5% of branches and […]

Bank of Maharashtra under PCA

Reported by | Updated: June 19, 2017

Bank of Maharashtra has been put under ‘prompt corrective action’ by the Reserve Bank of India in view of its high level of stressed assets. This is the 5th PSU bank to come under what is described as PCA framework since April to help bring down the level of troubled loans in the banking sector. […]

New ED for Bank of Maharashtra

Reported by | Updated: April 5, 2017

Bank of Maharashtra has a new ED.  Alekh C. Rout, who has been CGM at State Bank of Bikaner and Jaipur has assumed office as ED at the bank on 31 March. He was handling commercial banking portfolio at State Bank of Bikaner and Jaipur. He has also worked with State Bank of Hyderabad and […]

Bank of Maharashtra ties up with Cigna TTK

Reported by | Updated: February 7, 2017

Bank of Maharashtra is partnering with insurance company Cigna TTK Health to market the insurer’s products in the bank’s branches across the country. The bank will offer all of Cigna TTK’s superior health insurance products to its 2 crore customers through its network of over 1896 branches, its 14,000 bank employees across the country as […]

BoM, Future Generali in bancassurance pact

Reported by | Updated: January 31, 2017

Bank of Maharashtra has tied up with insurance company Future Generali India Insurance Company for marketing the latter’s products under bancassurance. The bank’s customers will be able to avail of motor, home, shopkeeper and rural insurance products at any of the 1,896 branches of the bank. Anurag Sinha, senior vice president – Bancassurance and zonal […]

Muhnot removed as CMD of Bank of Maharashtra

Reported by | Updated: September 27, 2016

The government has removed Sushil Muhnot as CMD of Bank of Maharashtra just four days before his date of retirement from service. While the government did not give any reasons for the removal, it is believed that the action has been on account of his misusing official position. R.P. Marathe, ED, Bank of India, has […]

Bank of Maharashtra donation to Naam Foundation

Reported by | Updated: August 29, 2016

Bank of Maharashtra has donated Rs 21 lakh to Naam Foundation, started by actor Nana Patekar and Makarand Anaspure to help the farmers stricken by drought in the Marathwada and Vidarbha regions of Maharashtra. Narendra Kabra, GM (IT) of the bank, along with two former employees of the bank, Sudhakar Dhodapkar and Suresh Nangare, presented […]