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Bank of Maharashtra Introduction

Chapter 1

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Bank of Maharashtra Introduction

shape Introduction

Bank of Maharashtra (Marathi: बॅंक ऑफ महाराष्ट्र) is a major public sector bank in India founded in 1935 with headquarters in Pune, India. Government of India holds 87.01% of the total shares. As of April 5, 2016, the bank has 15 million customers across the length and breadth of the country serving through 1897 branches. It has the largest network of branches in any public sector bank in the state of Maharashtra.


shape History

The bank was founded by a group of visionaries led by the late V. G. Kale and the late D. K. Sathe and registered as a banking company on 16 September 1935 at Pune.


The bank was registered on 16 September 1935 with an authorized capital of ₹ 1 million and began business on 8 February 1936. Bank’s financial assistance to small units has given birth to many of today’s industrial houses. After nationalization in 1969, the bank expanded rapidly.


Shri Narendra Singh who had assumed the office of Chairman and Managing Director from 1 February 2012, left his office on 30 September 2013 on attaining superannuation. Shri Sushil Muhnot was the Chairman and Managing Director before Ravindra Prabhakar Marathe. Ravindra Prabhakar Marathe is the current MD and CEO.


shape Attributes

  • Convener of the State Level Bankers Committee.
  • Offers Depository services and Demat facilities at 131 branches.
  • Has a tie-up with Life Insurance corporation of India and United India Insurance company for the sale of insurance policies.
  • Has achieved 100% CBS enabling anytime anywhere banking to its customers.


For further information about Bank of Maharashtra, Click Here.