Bank of Maharashtra Service and Facilities

Bank of Maharashtra service

Bank of Maharashtra is an Indian bank based in the city of Pune. The bank was established in the year 1935 with an initial authorized capital worth Rs. 10.00 Lacs, although it became operational in the early phase of the next year. The bank got nationalized by the Government of India in the year 1969.

With a total number of 1421 branches located all over India as of April 2009, the bank claims to have the largest number of branches within the state of Maharashtra, among all the Public Sector banks. Commonly known as a common man’s bank, Bank of Maharashtra adopts a philosophy of “Technology with personal touch”, and follows its motto stating “One Family, One Bank, Bank of Maharashtra”.

Shri Bhat initiated for a comprehensive overview of banking companies obtainable within the region via the special subject of Kesari information paper released in reminiscence of Lokmanya Tilak inside just a few months of establishment of MCC. He ensured that his buddy, Shri V. P.Varde, considered as a doyen of co-operative movement, wrote an article on the necessity of a separate Bank for Maharashtra, thus launching a public discussion on the subject.

Bank of Maharashtra Facilities

: Bank of Maharashtra

Whereas there was no noticeable response to the article of Shri Varde, Shri A R Bhat kept on discussing the subject with leaders in Commerce and Industry.Shri Bhat ensured that Mahratta Chamber and its Administrators took up the difficulty and held a Convention on Business and Trade in Poona on behalf of the MCC in February1935.

All the branches of Bank of Maharashtra have been fully computerized, with Depository services and Demat facilities being offered at 131 branches as of April 2009. The bank aims at increasing its ATM network from 345 to 500 soon, apart from planning to install Biometric ATMs at some selected branches. Apart from it, introduction of Phone Banking, Internet Banking and Mobile Banking is also on the cards.

Bank of Maharashtra Other Highlights

Apart from providing regular banking services to the customers, Bank of Maharashtra has established two Joint Ventures to fulfill its other commitments towards the general public and society. These Joint Ventures are M-SETI and Mahabank Info Center.

Mahabank Self-Employment Training Institute (M-SETI) is an effort initiated by Mahabank Agricultural Research & Rural Development Fund (MARDEF), a trust run by Bank of Maharashtra receiving help from National Bank for Rurl Development (NABARD).

The institute runs various self-employment oriented training courses for the rural unemployed youth from the districts of Pune, Kolhapur, Satara, Sangli, Nashik, Ahmednagar, Jalgaon, Dhule and Nandurbar.

Bank of Maharashtra Info Center is a yet another initiative by Bank of Maharashtra aimed at providing various retail baking related information to the customers, and enabling smoother operations for them.

Bank’s Vision : To be a vibrant, ahead trying, techno-savvy, buyer centric bank serving various sections of the society, enhancing share holders’ and employees worth while moving in the course of world presence.
As on 30.09.2011 Bank has 1564 Branches in throughout India.

The Autonomy : The Bank attained autonomous standing in 1998. It helps in giving an growing number of services with simplified procedures without intervention of Government.

Social Aspect : The bank excels in Social Banking, overlooking the profit side; it has a superb share of Priority sector lending having 38% of its branches in rural areas.

Bank is the convener of State level Bankers committee. Bank provides Depository services and Demat facilities at 131 branches. Bank has a tie up with LIC of India and United India Insurance firm for sale of Insurance policies. All of the branches of the Bank are totally computerised.