Bank of Maharastra

Brief about Bank of Maharastra

Prof. V. G. Kale and the late Shri D. K. Sathe and registered as a banking company on the 16th of September, 1935 at Pune. The authorized capital was Rs. 10 Lakhs and issued capital of Rs. 5 Lakhs. Their vision was to reach out to and serve the common man and meet all their banking needs. Successive leadership of the Bank and the employees have endevoured to fulfill their vision.

Milestones : Pre Nationalisation

1936 : Commenced business on February 8th.
1945 : Deposits crossed Rs. 1.00 crore mark.
1946 : Maharashtra Executor and Trustee Company (METCO) established.
1958 : Listed on Bombay Stock Exchange.

Milestones : Since Nationalisation

1969 : The Bank was nationalized with 153 branches.
1978 : Set up first Regional Rural Bank (RRB) 'Marathwada Gramin Bank' with headquarters at Nanded.
The Bank was appointed as Convenor to the State Level Bankers' Committee (SLBC)
1979 : Bank's business crossed Rs.1,000 crore.
1980 : 500th branch of the Bank at Narian Point, Mumbai inaugurated by the late Smt. Indira Gandhi, the then Prime Minister of India.
1981 : Set up the second RRB “Aurangabad Jalna Gramin Bank”.
1984 : Dr Manmohan Singh, the then Governor, Reserve Bank of India, launched the Bank's Golden Jubilee Celebration.
1986 : Set up the third RRB “Thane Gramin Bank”
1987 : 1000th branch of theBank opened at Indira Vasahat, Pune.
1996 : Bank's Diamond Jubilee Celebration launched by the then RBI Governor, Dr. C. Rangarajan
2004 : Bank came up with Initial Public Offering (IPO)
2006 : Launched ATM-cum-International Debit Card
Commenced Bancassurance business
Commenced distribution of Mutual Fund products.
Surpassed business landmark of Rs. 50,000 crore.
1st CBS branch rolled out on 13th November at Karve Nagar, Pune.
2009 : 1444 branches, 345 ATMs, Total Business over Rs. 90,000 crore, 902 CBS branches.
2nd Mar 2010 : The Bank achieved 100% CBS coverage.

To be a vibrant, forward looking, techno-savvy, customer centric bank serving diverse sections of the society, enhancing shareholders’ and employees’ value while moving towards global presence.

To know more about branches of bank of maharastra in Hyderabad, do visit:http://www.crazyhyderabad.com/bank-of-maharastra.html