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| Additional information |
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| Bank of Maharashtra |
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Mission statement:
To ensure quick and efficient response to customer expectations.
To innovate products and services to cater to diverse sections of society.
To adopt latest technology on a continuous basis.
To build proactive, professional and involved workforce.
To enhance the shareholders’ wealth through best practices and corporate governance.
To enter international arena through branch network.
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. |
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Overview:
Mahabank, started 77 years ago by great visionaries to serve the small in Trade & Industry and the common man who were not getting banking facilities at that time, has been keeping the common man at the centre in its policies, practices and strategies from the beginning.
Bank has crossed many milestones in its journey of serving the nation, commenced in 1936.
Bank is one of the few public sector banks who adopted latest technology more than two decades ago, to bring the benefits of IT to its customers.
Bank has its presence in 26 states and 2 Union Territories across India.
All the 1577 branches are under CBS, providing "any where any time banking".
The Bank’s network of 501 ATMs have highest average daily hits proving that they are placed at most convenient locations of the customers.
Bank secured ISO 27001:2005 certificate from Det Norske Veritas (DNV), an international certification agency, for its Information Technology division which establishes that it has complied with the international standards for security capabilities relating to processes, policies, practices and infrastructure.
Bank has wide range of IT Enabled services such as "MahaConnect" (Internet Banking Service), Mobile Banking, Phone Banking and SMS Banking facility with online facility for funds transfer to give comfort of banking to its customers.
Nationalized in 1969 itself, Maha Bank continued to spread its network and services in rural and semi urban areas also, consequent of which, it has 54% of branches in rural and semi urban area even today.
New initiatives for rural development are very common in Bank of Maharashtra.
Bank of Maharashtra made its tryst with Financial Inclusion way back in 1989 when the Gramin Mahila Va Balak Vikas Mandal, an NGO was established primarily to promote empowerment of the economically weak and women.
National Bank for Agriculture and Rural Development (NABARD) awarded FIRST prize to Bank of Maharashtra for best performance in the category of commercial banks under SHG Bank Linkage Programme during 2010-11 in Maharashtra state. Today there are more than 85,000 Self Help Groups promoted by the Bank. The Rural Development Centers and 7 Mahabank Self Employment Training Institutes are working for Mahabank Agricultural Research and Rural Development Foundation, a Trust established by the Bank for undertaking rural development activities.
100 Mahabank Gram Seva Kendras (MGSKs) in remote villages are latest unique initiative of the Bank under Financial Inclusion Plan. The Bank’s permanent staff member of the nearest parent branch, equipped with a laptop will be available in these MGSKs to render all types of banking services on specified days every week, so that the villagers can avail the same at their doorsteps.
Bank has completed coverage of all allotted 1215 villages under Financial Inclusion Plan well before the expected time frame.
I may share with you that our more than 1.30 crore customers are the basic strength to us who are patronizing us with their loyalty and patronage. I thank them all and remain grateful to them for ever.
With about 14000 dedicated work force along with state of the art technology in place coupled with wide range of products and services to fulfill banking needs of all segments of society, Maha Bank will continue to bring delight in banking with it always. |
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History:
Registered on 16-09-1935
Commitment stated in the prospectus issued on 21-10-1935:
“Steadily to spread its business operations all over Maharashtra and as opportunity allows, outside that area offering varied services to the general public while trying to be useful to trade , commerce and industry consistently with high standards of safety and efficiency”
1936 :
Commenced operations on 08-02-1936 in Pune
1938 :
Second branch of the bank was opened in 1938 at Fort, Bombay.
1940 :
Third branch came up at Deccan Gymkhana, Pune
1944 :
Status as Scheduled Bank obtained
1946 :
Deposits crossed Rs One crore mark
Formed fully owned subsidiary, The Maharashtra Executor & Trustee Company
First branch outside Maharashtra opened in Hubli (Mysore Starte, Now Karnataka)
1949 :
Expansion to AP: Hyderabad branch opened
1963 :
Expansion to Goa: Panjim Branch opened
1966 :
Expansion to Madhya Pradesh: Indore branch opened
Entered in Gujarat: Baroda branch opened
1969 :
Nationalised alongwith 13 other Banks
Entry in Delhi by opening Karolbagh branch on 19-12-69
1974 :
Deposit base crossed Rs. 100 Crore mark
1976 :
Marathwada Grameena Bank, first RRB established on 26-08-1976
1978 :
New Head Office building inaugurated by Hon'ble Prime Minister of India Shri. Morarji Desai
Deposits crossed the figure of Rs.500 Crores
1979 :
“Mahabank Agricultural Research and Rural Development Foundation”, registered as a public trust, was established for undertaking research and extension work and to provide more extensive services to farmers.
1985 :
500th branch in Maharashtra state was opened at the hands of the then Prime Minister, Mrs Indira Gandhi at Nariman Point, Mumbai.
First Advanced Ledger Posting Machine (ALPM) was installed at the branch.
Golden Jubilee Year Celebrations launched at the hands of Dr. Manmohan Singh, Governor Reserve Bank of India
1986 :
Thane Grameena Bank sponsored
1987 :
The 1000th branch of the Bank was inaugurated at Indira vasahat, Bibwewadi, Pune at the auspicious hands of Dr.Shankar Dayal Sharma, the Honourable Vice President of India
1991 :
"Mahabank Farmer Credit Card " was launched
Entered in to Domestic Credit Card Business
Main Frame Computer installed
Became member of the SWIFT
1995 :
Diamond Jubilee Celebrations - Dr C Rangarajan the RBI Governor was the Chief Guest
Deposits crossed Rs 5000 crore mark
1996 :
Moved into “A” category from the earlier “C” category. Autonomy obtained
2000 :
Deposits crossed Rs 10000 crore mark
2004 :
Public Issue of Shares – 24% owned by Public
Listed in BSE and NSE
2005 :
Bancassurance and Mutual Fund distribution business started
2006 :
Crossed total business level of Rs.50,000 Crore
Branch CBS Project started
2009 :
Entered in to 75th year of dedicated service to the Nation
Adopted 75 underdeveloped villages for integrated overall development
2010 :
100% CBS of branches achieved
Total Business crossed Rs One lakh crore
Opened 76 branches in the Platinum Year taking the total to 1506 |
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| Toll Free:
+91 1800 233 4526 |
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