Bank of Maharashtra
Bank of Maharashtra
Established in nineteen thirty-five, approximately eighty-four years ago, and having its headquarters in Lokmangal, Shivajinagar, Pune, India, the Bank of Maharashtra is one of the major public sector banks of India. Of all of its shares, the Government of India holds eighty-seven point zero one percent (87.01%) of the total shares. With a total of fifteen million customers spread all along the whole of the length and breadth of the country, it serves a multitude of the world's largest democracy through an extensive network of one thousand eight hundred ninety-seven branches as of a tabulated data like that on fifth April two thousand sixteen. It holds the largest reticulum of branches by any public sector bank in the whole state of Maharashtra. Hugely popular with the slogan, Ek Parivar, Ek Bank, it has roaring popularity and is increasing with time. The government of India owns it.
History of Bank of Maharashtra
- Founded by V. G. Kale and D. K. Sathe, this historical Bank dates back to sixteen September, nineteen thirty-five in attaining its registration as a banking company at Pune.
- Registered on sixteen September, nineteen thirty-five, it began with an authorized capital of one million rupees. It officially commenced business on eighth of February nineteen thirty-six. The Bank's financial assistance then, too small units have given birth to many of today's industrial houses. It acquired its nationalization in nineteen sixty-nine. Once attained, it’s growth began fast spreading.
Services provided by the Bank of Maharashtra
There's a lot of all-round services provided by the Bank. There's a wide range of services that are ready to serve all of your needs. Some of the comprehensive services include
- Consumer banking - also nicknamed as Retail banking, consumer banking, is a provision of services by a bank in favor of the general public, instead of rendering them to the companies, corporations or other banks, which all in all again is known as wholesale banking. Banking services under consumer banking or retail banking include the provision of savings and transactional accounts, a multitude of cards like debit cards and credit cards, mortgages, personal loans.
- Corporate banking - with an uproar in the corporate market and many of the young generation being included directly into this branch, it remains an incredibly large branch. Corporate banking, also termed at times as business banking, refers to an aspect of banking that deals only with the corporate customers
- Finance and Insurance -Financial services are the financial services which are made obtainable solely by the economics industry, which are a part of wide-ranging businesses that manage money. All of these big bees include credit unions, consumer finance companies, stock brokerages, investment funds, banks, credit-card companies, insurance companies, accountancy companies, individual managers, and some government-sponsored enterprises.
- Investment banking - Unlike commercial banks and retail banks, investment banks are not to accept any deposits. An investment bank is a commercial facilities business that firmly involves itself in advisory-based financial dealings on behalf of individuals or ranked corporations, or the government. On the basics, it has been traditionally associated with corporate finance.
- Mortgage loans - these loans are mostly used to raise funds to buy real estate legally, or invariably raise funds for any purpose — all of this being legalized by law. When the proceedings are done, the loan is a secured one on the borrower's property. And this is ensured through a process named as mortgage origination.
- Private Banking - Private banking is banking, investment, and a whole bunch of other financial services that are enjoyed by only to high-net-worth individuals (HNWIs) with incredibly satisfying levels of income. A massive accumulation of assets can also measure it. Private banking is a service solely enjoyed by the affluent and elite class of people.
- Savings - at a given point of time the assets, monetary evaluation, and income held by an individual is their saving. An analytical review is generally required to find them worth.
- Securities - legally administrative in the jurisdiction, it merely refers to safeguarding one's assets — all a form to a financial instrument.
- Asset management - tangible to intangible assets, this part has all those assets covered up
- Wealth management and Credit cards
Using the Bank of Maharashtra Internet Banking Account, one can sit in one's home and now can pay those electric bills or the satellite television and mobile phone ones with ease. Not only this, but it also makes online transactions super fast and easy, and one can also pay the Insurance Premium, Credit Card Bills, and all via this boon of technology.
Its features include
- Utility bill payment
- Railway reservation
- Online shopping
- SBI credit card payment
- LIC premium payment
- MSYP online payments
Bank of Maharashtra was honored with the “Best Bank – Public Sector” award in BFSI Awards-two thousand fourteen by World HRD Congress.