Company History - Bank of Maharashtra

YEAR EVENTS 1969 - The Company was Incorporated on 19th July. The Bank is a Government of India undertaking and carries on all types of banking business. The Bank was brought into existence by an ordinance issued on 19th July, by the Central Government. In terms of the Ordinance, the undertaking of `The Bank of Maharashtra Ltd.' was transferred to and vested in the new bank. The ordinance was replaced by the Banking companies (Acquisition and Transfer of Undertakings) Act, 1969. The Act was declared null and void by the Supreme Court on 10th February, 1970. An Ordinance was thereupon promulgated which was latter replaced by the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970 which was made effective retrospectively from 19th July. - Under the `Lead Bank Scheme' the Bank was allotted 5 districts of Maharashtra, viz. Pune, Satara, Nasik, Aurangabad (jointly with Central Bank of India) and Thane. Surveys were carried out in these districts for the identification of growth centres. 1970 - The Bank opened 39 branches in these five `Lead Bank' districts out of the total of 47 branches opened. The Bank continued to follow the scheme in the subsequent years and another district was allotted to it. 1976 - In August, the Bank sponsored a regional rural bank under the name `The Marathwada Gramin Bank Ltd.,' Nanded. 1980 - Rs.81,30,725 capitalised from Reserve Fund. 1982 - One more Regional Rural Bank was sponsored on 7th December, under the name Aurangabad-Jalna Gramin Bank Ltd. In the subsequent years, another RRB under the Thane Gramin Bank was sponsored by the Bank. These three RRBs together had 312 branches as at the end of March 1994. 1984 - Rs.12 lakhs contribution by Government. 1985 - Rs.1,308 lakhs contributed by Government. 1986 - Rs.800 lakhs contributed by Government. 1988 - Rs.2,100 lakhs contributed by Government.

1991 - Rs.10,500 lakhs contributed by Government. 1992 - Rs.3,500 lakhs contributed by Government. 1993 - Rs.15,000 lakhs contributed by Government. 1996 - The bank opened two extension counters at Gogal (Goa) and Khandala (Ratnagiri) during the year. - The bank introduced a new motivational scheme titled The Best Colleague Scheme) to encourage, recognise and motivate sincere, meritorious and helpful staff members. - The Bank launched a major computerisation programme with the basic objective of making use of the latest developments in information technology towards betterment of customer service and improvement in housekeeping. - Shri. V. Leeladhar, has been appointed as the Executive Director of the Bank vide the Government of India, Ministry of Finance, Department of Economy Affairs. 1999 - The bank introduced its telebanking service, which is the first of its kind by any of the nationalised bank in the region. - The bank has also set up a core credit monitoring cell at its headquarters in Pune to continuously assess the performance report of borrowers (above Rs. 25 lakhs), which would be provided by regional and zonal centres. 2000 - Bank of Maharashtra (BoM) is launching its new cash management product. - The Export Import Bank of India (Exim Bank) is slated to sign a Memorandum of Understanding (MoU) with Bank of Maharashtra (BoM) on February 28 for providing advisory services on export finance. - BoM launched its information technology training institute, the first of its kind in banking industry in the country. - Sukomal Chandra Basu has succeeded Madan Mohan Vaish as the Chairman

and Managing Director of the Company. - Bank of Maharashtra (BoM), a public sector (PSU) bank, has formed an equal joint venture with Magic Software, an Israeli software developer and its Indian subsidiary. 2004 -Comes out with Rs 230 crore public issue of equity shares (100,000,000 equity shares of Rs 23 each), issue oversubscribed 10.5 times -Bajaj Auto and Bank of Maharashtra (BoM) have signed a strategic alliance to offer two-wheeler loans in India. 2005 -Bank of Maharashtra has informed that Mrs. Lila F Poonawalla, Director resigned from the Directorship of the Bank and she stands relieved from her Directorship with effect from August 01, 2005 2006 -Bank of Maharashtra ties up with United Insurance Company 2007 - Bank of Maharashtra and Life Insurance Corporation of India have together unveiled two products, Maha Suraksha Deposit Scheme and MahaGrih Suraksha scheme. 2009 - Bank of Maharashtra has informed that in terms of guidelines of the RBI vide letter dated December 01, 2008, the Bank has appointed following five Chartered Accountants firms as Statutory Central Auditors (SCAs) of the Bank for the year 2008-09. 1. M/s. C R Sagdeo & Co., Nagpur 2. M/s. Shah Baheti Chandak & Co., Nagpur 3. M/s. Wahi & Gupta, New Delhi 4. M/s. V C Gautam & Co., New Delhi 5. M/s. B Chhaawchharia & Co., Kolkata The appointment M/s. B Chhawchharia & Co., Kolkata is made in place of M/s. S K Mehta & Co., whose term was completed. The other auditors are reappointed for continuing as SCAs for the year 2008-09.

Source : Dion Global Solutions Limited

BankofMaharashtra(Marathi: )isthepremierbankofMaharashtra,operating inthecountryofIndia.Registeredon16thSept1935withanauthorizedcapitalofRs10.00lakh andcommencedbusinesson8thFeb1936. Knownasacommonman'sbanksinceinception[citationneeded],itsinitialhelptosmallunitshas givenbirthtomanyoftoday'sindustrialhouses.Afternationalizationin1969,thebank expandedrapidly.Itnowhas1375branches(asof31March2008)alloverIndia.TheBankhas thelargestnetworkofbranchesbyanyPublicsectorbankinthestateofMaharashtra.The BankwasfoundedbyagroupofvisionariesledbytheLateV.G.KaleandtheLateD.K.Sathe andregisteredasaBankingCompanyon16September,1935atPune.Today,Bankof Maharashtrahasover12millioncustomersacrossthelengthandbreadthofthecountryserved through1577branchesin23statesand2unionterritories.[citationneeded] Ason30.09.2011Bankhas1564BranchesinalloverIndia.

Mission
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.

Our Logo

The Deepmal With its many lights rising to greater heights. The Pillar

Our institution- Symbolising strength. The Diyas Our Branches- Symbolising service. The 3 M's symbolising Mobilisation of Money Modernisation of Methods and Motivation of Staff.

Milestones in the journey for nation building:

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

HousingLoanScheme

List of approved Builders by Bank of Maharashtra (City Wise)

Bangalore Chennai Solapur Pune Nasik Delhi

Purpose

Buildyourownhouse Purchasenewhouse/Flat(OldorNew) Repairs/Renovationofexistinghouse

Eligibility

SalariedPersons,Professionals,Businessmenwithsufficientdisposable income.Farmershavingminfiveacresofirrigatedlandholding.Non ResidentIndiansarealsoeligible. Minimum21yearsMaximum50yrs.forsalariedpersons. Maximum55yearsforotherthansalariedpersons Forsalariedclass 50timesofGrossSalaryor60timesofNetMonthlysalarywhicheveris highersubjecttoapplicablemargin ForBusinessmen Equaltoavgannualincome(Netprofit+Depreciation)oflast3yrsX4 times(B/S,ITreturns)Alsonoterepaymentofanyothertermliabilities. ForFarmers 4timesofavgannualnetincome.CrosscheckGrossincome,land holding,croppingpattern,SugarFactory/APMC/otheragenciesbillsetc. Ensureforrepaymentcapacity&repaymentexperience.Ifjointly owned,considerjointholdersincome NomaximumlimitforMetro/Urbanarea Rs.15lakhinSemiUrban/Ruralarea Rs.5lakhforrepairs/renovationinallareas

Age

QuantumofLoan:

MaximumLoanQuantum:

Deductions

TotaldeductionsincludingproposedEMIshouldnotexceed65%of grossmonthlysalary/annualincome. UptoRs25000/OneGuarantorwithsufficientincome/networth AboveRs25000/Equitable/Regd.MortgageofpropertyorEqual amountofpapersecurity(NSCs,FDRsofourBanketc.excludingshares) guaranteeofthespouse,guaranteeofrelativeswhoseincomeis consideredforquantum Forfullvalueagainstfire/EarthquakeetcwithBanksclause.

Security

Insurance

ClickheretoviewtheInterestRateofHousingLoan 1. Actualsearch&titleverificationchargestobebornebytheborrower,tobepaidtothe empanelledAdvocate. 2. Valuationchargestobebornebyborrower,tobepaidtoempanelledvaluer 3. StampdutyonvariousdocumenttobeexecutedbytheborrowerapplicableasperState StampAct. Loanamount ForcreditfacilitiesUptoRs.2.00Lakh Rs.2,00,001/toRs.10,00,000/ Rs.10,00,001/toRs.50,00,000/ Rs.50,00,001/andabove Charges Nil Rs.500/ Rs.1,500/ Rs.5,000/ 4. D ocumenta tion chargesas given below:

5. ProcessingFees: LoanSlab LoanuptoRs.25.00lakh LoanaboveRs.25.00lakh Processingfees NIL(till3062012) 0.50%(Max.Rs.50,000/)

6.

PrepaymentPenalty: ForFloatingRateloans:NIL ForFixedRateloans: a)NIL,ifclosedfromownsources b)2%onprincipaloutstandingiftheloanistakenoverbyotherBanks/FIs LifeInsurance:NA

SocialResponsibility

Bank's Rural Development Centres at Hadapsar and Bhigwan are undertaking vaious developmental activities for the benefit of the famers vi. Lab to Land project, reuse / rehabilitation of Saline Soil and advice on scientific use of inputs for optimum results. The Mahabank Agricultural Research and Rural Development Foundation (MARDEF) is active in socio-economic development of villages by encouraging farmers to take diversified activities like dairy, EMU farming, goat rearing, grape cultivation, horticulture and scientific use of various inputs like fertilizers etc. The foundation assists farmers, especially small and marginal farmers, in receiving timely bank credit. The Bank has established Five Mahabank Self Employment Training Institutes (MSETI), one each at Pune, Aurangabad, Nagpur, Nasik and Amravati. These provide training to rural youth and women for self employment. A total of 4605 candidates have been trained by the institutes so far.

Gramin Mahila Va Balak Vikas Mandal (GMVBVM), an NGO formed in 1989 by Bank of Maharashtra, is actively involved in formation, nurturing of SHGs and facilitating linkage to Bank Credit. The GMVBVM also helps SHGs to market their products through two sales outlets

in Pune City named SAVITRI. GMVBVM assists the SHGs to secure quality raw material and inputs for their products and extends marketing and sales support. Matured SHGs are assisted to upgrade into Small and Medium Enterprises. GMVBVM has been declared as Mother NGO by Govt. of Maharashtra. The Mahabank Vidarbha Shetkari Jagruti Abhiyan, a joint effort of Bank of Maharashtra and Hanuman Vyayam Prasarak Mandal has reached out to more than 5750 Farmers in distress in six districts of Vidarbha through counselling and training sessions

I]Loanschemes 1]LoanSchemeforExporters ObjectiveoftheScheme: Toprovidebettertermsofcreditincludingratesofinteresttoalleligibleexporters,includingthose undersmallandmediumsector,comparedtothoseextendedtootherexportersbytheBank. 2}LoanSchemeforIndividuals

Loansagainstdeposits

Ifyouhaveanytermdepositwithusyoucaninemergenciesalways availofthisfacilitywhichweoffer.

3]LoanSchemeforProfessionalsandSelfEmployed Topurchaseequipment/repairs/renovationtoexistingequipment,purchaseoftools,workingcapital requirements,acquiring/repairingbusinesspremises. 4]HousingLoanScheme

Build your own house Purchase new house/Flat (Old or New) Repairs/Renovation of existing house

5]MahabankAdharScheme PersonalexpensesandgivenonlyforPensioners 6]LoanSchemeforCorporates

The Bank finances the corporate sector for its business activity and for setting up units, modernisation, diversification and upgradation. Such finance is extended in the form of
Funded facilities Non Funded facilities Funded facilities 1. TermLoans: Repaymentininstalmentsoverafixedtime. 2. CashCredit: Runningaccountfacility. 3. BillDiscounting: Inthenatureofpostsaleslimit.

Non Funded facilities

Letter of Credit facility to facilitate purchase of material / goods. Letter of Guarantor facility for the issuance of Guarantee in the nature of bid bonds, performance bonds, etc.

For finance of International trade, the Bank provides Working Capital facility to

Exporters Importers Exporters

Working Capital finance can be availed at

Pre-shipment stage Post shipment stage

At the pre-shipment stage finance is provided in the form of Packing Credit Purpose : For procuring / manufacturing of goods meant for export. At the post shipment stage export finance is provided by way of

Negotiation / Discounting of Export Bills, Rupee advances against collection bills, Advance against Export incentive.

For Importers
For Importers Funded Working Capital finance by way of cash credit facility and non funded Working Capital finance by way of Import Letter of Credit facility is provided to corporates who are importers.
LoanSchemeforEntrepreneurs

For the endeavouring entrepreneur who dreams of setting up an enterprise, the Bank has a number of financial schemes. To service the industrial sector the Bank has Industrial Finance branches at Mumbai and Pune. SSI branches at Pune, Mumbai, Krishnanagar Satara, Piraman Gujarat, Satpur Nasik and I.E. Thane. Finance can also be availed at any other branch of the bank. The Bank finances the Industrial Sector for setting up a unit for modernization, diversification, upgradation, expansion. Bank finance can be availed in the form of :

TermLoanforacquisitionofmachineryandfixedassets. WorkingcapitalbywayoffundedCashCreditlimit. NonfundfacilitiesintheformofLettersofCredit/LettersofGuarantee.

7]LoanSchemeforEntrepreneurs

For the endeavouring entrepreneur who dreams of setting up an enterprise, the Bank has a number of financial schemes. To service the industrial sector the Bank has Industrial Finance branches at Mumbai and Pune. SSI branches at Pune, Mumbai, Krishnanagar Satara, Piraman Gujarat, Satpur Nasik and I.E. Thane. Finance can also be availed at any other branch of the bank.

The Bank finances the Industrial Sector for setting up a unit for modernization, diversification, upgradation, expansion. Bank finance can be availed in the form of :

TermLoanforacquisitionofmachineryandfixedassets. WorkingcapitalbywayoffundedCashCreditlimit. NonfundfacilitiesintheformofLettersofCredit/LettersofGuarantee.

8]GOLDCARDSCHEMEFOREXPORTERS Toprovidebettertermsofcredittoalleligibleexporters,includingthoseundersmallandmedium sector,comparedtothoseextendedtootherexportersbytheBank. 9]MahabankRenewableEnergyEquipments TopromoteadoptionofrenewableenergypracticesanduseofSolarHomeSystems. 10]SalaryGainScheme Tomeetpersonalneedsofthecustomerswhoaresalaryearners. 11]VehicleLoanScheme PurchaseofNew4or2wheelers/Secondhand4wheelersupto3yrsold. 12]MahabankPersonalLoanScheme TomeetpersonalExpenses. 13]MahadeepSolarHomeSystems Toinstallsolarhomesystemsfordomesticuseaswellasforentrepreneurstoestablishcentralbattery chargingstationsandhireoutsolarlightstosmallbusinessessuchasstreethawkersandhouseholdson dailyfeebasis. 14]ConsumerLoanScheme PurchaseofConsumerDurables/Computer. 15]TopUpLoanforHomeloanborrowers Existinghomeloanborrowersnotbeyondageof60yearsareeligible,butonlyafterminimum24 monthlyinstallmentsarepaid. 16]MahaGoldLoanScheme(LoanagainstGoldOrnaments) Theschemeisimplementedthrough176selectedbranchesofthebankacrossIndiaasperthelist enclosed.

II] Deposits scheme 1] Saving Bank Scheme A] Mahabank Deposits Any individual can open savings bank account singly or jointly. SB Account of minors can be opened jointly with natural guardian/legal guardian. The applicant should furnish identity and address proof as given in account opening form (CIF for individuals), two photographs & PAN number/Form No. 60/61 while opening new account. In case the customer is unable to give any documentary proof of identity & address, to the satisfaction of the bank, the account can be opened with the introduction from existing account holder who has been subjected to full KYC procedure & having satisfactory operations in the account for over six months. B] Yuva Scheme New Scheme for Students : With a view to making children develop the habit of banking and also to make them our future customers, we have introduced suitable scheme for kids / children / students. C] Mahabank Lok Bachat Yojana To enable people belonging to bottom of the pyramid (Low income group) to open an account with the Bank. II] Current Deposits A] Mahabank Current Account Scheme Any individual, proprietorship or partnership firm or a legal person i.e. Institution or a Company or Trust, Corporate Bodies, Government / Semi-Government Departments, a developmental Agency formed by Government, can open a Current Account. Application for opening the Account should be tendered in Account opening form prescribed by the Bank The applicant / s should fulfill KYC norms by furnishing identity and address proof, two photographs & PAN number / Form No. 60 / 61 while opening new account as applicable to the constitution of applicant and as mentioned in the form. B] Current Account Scheme Pearl, Sapphire & Diamond III] Term Deposits A] Mahabank Term Deposit Scheme
Individual or HUF Tenure of the Deposit

Not less than 5 Years - Maximum up to 10 Years.

B] Recurring Deposit Scheme

AnIndividual,firm,partner&company,canopenrecurringdepositaccount.Evenaminorcanopen Recurringdepositaccountwithus.ItisidealforDoctors,Engineers,Businessmen,students,household womenetc.

C]MonthlyInterestDepositsScheme
Mahabank'smonthlyinterestdepositschemeofferstheconvenienceofgettingmonthlyincome,just likeanaddedincometonormalearnings,makingitpossibletoplanmonthlybudget. D]CumulativeDepositScheme Mahabank's Cumulative deposit scheme gives a rate of return much higher than the apparent rate stated on the deposit receipt as this deposit earns an interest on quarterly compounded basis.