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| Type | Public BSE & NSE:MAHABANK} |
|---|---|
| Founded | 1935 |
| Headquarters | Bank of Maharashtra, Lokmangal Shivajinagar Pune India |
| Key people | Allen C A Pereira, Chairman |
| Industry | Banking Capital Markets and allied industries |
| Products | Loans, Credit Cards, Savings, Investment vehicles etc. |
| Revenue | ▲ Rs. 4630 mil |
| Total assets | Rs. 481 bn |
| Website | www.bankofmaharashtra.in |
Bank of Maharashtra Marathi: महाराष्ट्र बॅंक is the premier bank of Maharashtra, operating in the country of India.
Registered on 16th Sept 1935 with an authorized capital of Rs 10.00 lakh and commenced business on 8th Feb 1936.
Known as a common man's bank since inception, its initial help to small units has given birth to many of today's industrial houses. After nationalization in 1969, the bank expanded rapidly. It now has 1375 branches (as of 31 March 2008) all over India. The Bank has the largest network of branches by any Public sector bank in the state of Maharashtra.
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Aims
The bank wishes to cater to all types of needs of the entire family, in the whole country. Its dream is "One Family, One Bank, Bank of Maharashtra ".
The Autonomy
The Bank attained autonomous status in 1998. It helps in giving more and more services with simplified procedures without intervention of Government.
Social Aspect
The bank excels in Social Banking, overlooking the profit aspect; it has a good share of Priority sector lending having 38% of its branches in rural areas.
Other Attributes
Bank is the convener of State level Bankers committee. Bank offers Depository services and Demat facilities at 131 branches. Bank has a tie up with LIC of India and United India Insurance company for sale of Insurance policies. All the branches of the Bank are fully computerised.
Future Plans - Vision 2009
To cross the Business Level of Rs.85,500/- Crores by March 2009. 19.84% Growth in Savings Bank Deposits and average Saving Deposits growth rate of 17.69%. 19.65% Growth in Current Deposits and average Current Deposits growth rate of 17.29 Systematic approach for reducing Net NPA level to below 1% 64 Branches are proposed to be opened at new business centres and 3 extension counters to be converted into full fledged branches. 4 Currency Chests to be opened. ATM network to be increased from 345 to 500 Biometric ATMs to be introduced at selected branches. Introduction of Internet banking, Mobile banking and Phone banking. SHGs with special reference to agriculture to be promoted and financing be implemented so as to increase financing to small and marginal farmers. Financial Inclusion to the unbanked section of the population. [1]
See also
References
External links
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